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fiscal deficit reduction

Moody’s keeps Pakistan’s B3 ranking with stable outlook

KARACHI: Credit rating agency Moody's kept Pakistan's B3 rating with a stable outlook in a recent analysis, saying strong growth performance, fiscal deficit reduction and improved inflation dynamics underpin the rating. At the same time, credit challenges include a relatively high general government debt burden, weak physical and social infrastructure, a fragile external payments position, and high political risk, the rating agency said. In particular, the government's very narrow revenue base weighs on debt…