ISLAMABAD – Moody’s investor services have raised alarm bells for thePakistan economy.
Pakistan does not have enough foreign exchange reserves to pay its publicand private external debt due over this year, a report by Moody’s said onThursday.
“Foreign exchange reserves are low, and gross borrowing requirements arelarge in Pakistan and Sri Lanka, threatening the ability of thesegovernments to refinance debt and fund deficits affordably,” Moody’sInvestors Service said in its report.
The credit rating agency said the total public and private external debtdue over the next year is larger than foreign exchange reserves.
Read Top Stories
Foreign exchange reserves are on lower side in Pakistan. The lower reservesthreaten government to refinance debt, it noted.
