The international credit rating agency Moody’s has said that Pakistan can default without bailout loans from the IMF. In this regard, Grace Lim, an analyst at Moody’s in Singapore, while talking to the American magazine Bloomberg, said that Pakistan by June However, without the IMF program, Pakistan may default due to its low reserves.
Grace Lim added that current foreign exchange reserves are only enough to cover one month’s worth of imports, according to Bloomberg. After June, the nation’s financial options are likely to be extremely uncertain.
Moody’s has downgraded Pakistan’s rating twice in the current regime, while after Moody’s, Fitch and S&P have also downgraded Pakistan’s rating.
In March of this year, Moody’s downgraded Pakistan’s rating for the second time in the current government, due to the repayment of domestic and foreign debts, Pakistan’s rating was lowered from C-double-A-1 to C-double-A-3, which is the highest in the history of Moody’s. There is a negative rating
