Political tension may harm economic progress: Moddy's
ISLAMABAD: Moody's Investors Service, an agency that configures the economic performance indicators said on Tuesday that ongoing political tension in Pakistan may affect the economic rehabilitation process of the country, ARY News reported.
According to World Rating Agency, Pakistan has been progressing towards economic betterment under the Extended Fund Facility (EFF) agreement, which it signed with the International Monetary Fund (IMF) in July 2013. Under the agreement, Pakistan envisages implementing reforms in the energy sector, improving tax administration, and privatizing some of its public enterprises.
Moody’s predicted that successful completion of the challenging program of reform would address constraints on economic growth and reduces fiscal imbalances, thus improving the sovereign's credit profile.
It further hinted for better bond credit rating if Pakistan successfully implemented the program.