PM welcomes Bloomberg report on Pakistan’s economic stability

ISLAMABAD: The Prime Minister of Pakistan has expressed satisfaction with Bloomberg’s latest report on Pakistan’s economic stability, stating it strongly indicates the improvement in the country’s financial health, ARY News reported.

According to Bloomberg’s report, the country has recorded a significant decrease in credit risk among developing markets, with the probability falling from 59% to 47% over the past 12 months.

The Prime Minister Shehbaz Sharif gave the credit for this achievement to organisational restructuring, successful international agreements, and timely debt repayments.

“This report is evidence of our economic team’s diligent efforts and the nation’s flexibility,” Prime Minister Shehbaz Sharif stated. He emphasised that Pakistan’s economic stability is the result of strategic improvements, reformed investor confidence, and reinforced relations with global financial institutions like the IMF.

As per the Bloomberg’s report, Pakistan surpassed numerous other emerging economies in terms of risk reduction, signalling rehabilitated global trust in the country’s fiscal direction.

Shehbaz Sharif repeated that Pakistan is swiftly moving toward a stronger economic future, with macroeconomic indicators showing consistent improvement.

Pakistan’s economic stability now stands as a beacon for international investors and a milestone in the country’s journey toward sustainable growth.

Pakistan and the Asian Development Bank (ADB) have signed an agreement for the Women Inclusive Finance Sector Program.

Spokesperson on economic affairs said that under the deal, ADB will provide $350 million, comprising a $300 million policy-based loan and a $50 million intermediary loan.

The program aims to empower women by offering opportunities in business, employment, and other economic ventures.

The agreement was signed by Additional Secretary Sabina Qureshi on behalf of Pakistan, while ADB’s Project Leader Dinesh Raj Shivakoti represented the bank.

Earlier this month, Pakistan and the Asain Development Bank signed a USD$300 million “Improved Resource Mobilisation and Utilisation Reform Program (Subprogram II)” loan agreement.