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Moody’s changes Pakistan’s ratings outlook from stable to negative

SINGAPORE: Moody's on Wednesday changed the outlook on Pakistan's rating to negative from stable but affirmed the B3 debt ratings, considered as being speculative and a high credit risk.    The decision to change the outlook to negative is driven by heightened external vulnerability risk. Foreign exchange reserves have fallen to low levels and, absent significant capital inflows, and will not be replenished over the next 12-18 months. Low reserve adequacy threatens continued access to external financing at moderate costs,…

Our prize is stable democratic Afghanistan, says defence minister

ISLAMABAD: Defence Minister Khurram Dastgir Khan has sought Europe's help to make the United States understand Pakistan's point of view on Afghanistan. “We expect the Europeans to convey our point of view to the Americans who are at the moment not very receptive to Pakistan’s point of view. It is to say that again let’s 'keep the eyes on the prize', as the Americans say. And the prize is a stable democratic Afghanistan,” he said in response to a question on Pak-US ties. This he said while talking to the national radio…

Standard & Poor’s affirms Pakistan’s ‘B/B’ ratings with stable outlook

ISLAMABAD: The global rating agent Standard & Poor's (S&P) in its report on Monday affirmed Pakistan's 'B' long-term and short-term sovereign credit rating. The outlook for the long-term ratings remains stable. Affirmation of Pakistan's rating reflects that economic prospects remain favourable and external and fiscal metrics of the country will not worsen materially from their current level, reported press information department. Standard & Poor's expect the government of Pakistan to continue its reform…

Moody’s maintains stable outlook for Pakistani banks

ISLAMABAD: Moody’s Investors Service on Thursday maintained its stable outlook on Pakistan’s banking system, reflecting strengthening the economy, and high liquidity buffers. The stable outlook also reflects the rating agency’s expectation that the country’s banks would continue to benefit from a stable deposit base, high liquidity buffers and an accelerating economic growth under the IMF programme, which would create lending opportunities over the next 12-18 months. Moody’s report, entitled “Banking System Outlook—…

Scottish Ebola nurse back in hospital, condition stable

EDINBURGH: British nurse Pauline Cafferkey, who contracted Ebola in 2014 while caring for patients in Sierra Leone, has been readmitted to hospital in Scotland for monitoring and is in stable condition, Glasgow's health service said on Thursday. "Ms Cafferkey was admitted to the Queen Elizabeth University Hospital under routine monitoring by the Infectious Diseases Team," NHS Greater Glasgow and Clyde said in a statement. "She is undergoing further investigations and her condition remains stable." Cafferkey, 40, was…