HONGKONG: The result of Pakistan’s election has announced as the country will make effort to secure a financing agreement with the IMF, says Fitch Ratings. A new agreement is key to the country’s credit profile. Fitch Ratings assumes deal will be achieved within a few months.
It added that the country’s external position has improved in recent months, with the State Bank of Pakistan (SBP) reporting net foreign reserves of USD8.0 billion as of 9 February 2024, up from a low of USD2.9 billion on 3 February 2023.
This looks set to be a coalition the country and it added that a government will assume office and engage with the IMF quickly.
The general election 2024 was held in Pakistan on February 8 and the Election Commission of Pakistan announced the results of the national assemblies and provincial assemblies’ seats. After the announcement of the results political parties are holding talks to form the new government in center and provinces.
PML-N had nominated former Prime Minister Shehbaz Sharif as its candidate for slot of the Prime Minister while PTI named Omar Ayub as its candidate for the position of PM.
