Twirp : Terrorist Wahabi Islamic Republic Pakistan 3

[Naresh]

<b>Moody’s cuts Pakistan rating to B3 from B2</b>

<b>LONDON : International rating agency, Moody’s International has cut down Pakistan Bonds’ rating to B3 from B2.</b>

International rating agency, Moody’s International’s analyst, Aninda Mitra said that the persistently depleting foreign reserves, deficit in balance of payments and failing to arrange immediate assistance from the global monetary organizations were the basic reasons of the downgrading of Pakistan’s credit rating. He said that the suspense in IMF loans also negatively impacted Pakistan’s rating.

The analysts further said that Pakistan economy facing threats from the global recession too, while the country would also have to take measures for the recovery of its export proceeds in a bid to enhance its foreign exchange reserves. <b>It may be recalled that Moody’s in September also had changed Pakistan’s outlook from stable to negative.</b>

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