Islamabad: Federal Finance Minister Ishaq Dar stated on Friday that he has spoken with the credit rating company Moody about the lowering of Pakistan’s sovereign credit rating.
The agency has lowered Pakistan’s sovereign credit rating from B3 to Caa1 by one notch, after seven years due to rising government liquidity and external vulnerability risks.
Dar said that if the rating agency did not reverse the reduction of Pakistan’s sovereign credit rating, he would provide a “befitting” response in a meeting with its representatives on next week.
Speaking to reporters outside the accountability court, Dar stated that the local currency is strengthening in comparison to the US dollar and added that no one will be permitted to play with the sentiments of the public. The minister yelled at the former PTI-led administration and said “Shame on those who brought the economy to this vulnerable position.
