RajaRawal111
Prime Minister (20k+ posts)
LAHORE (92 News) Pakistan’s default probability has dropped significantly during the last 12 months, said Bloomberg.
According to the American magazine, Pakistan’s default probability has dropped to 47 percent from 59 percent.
Economic stability, reforms, and improvement in the credit outlook by global financial institutions were the reasons behind the drop in Pakistan’s default probability, the magazine says.
Bloomberg points out that the decrease in Pakistan’s default probability is a reflection of the increasing confidence of investors.
In a statement, Adviser to the Finance Minister on Economic and Financial Reforms Khurram Shahzad said, citing Bloomberg Intelligence, that Pakistan has shown the greatest improvement in sovereign default risk.
Pakistan has achieved first place in the global ranking in terms of reduction in default risk, he added.
He stated that the drop in the probability of default from 59 percent to 47 percent during the last 12 months is due to the confidence of global investors.