Fitch sees ‘considerable risks’ In IMF report
The New York-based agency(Fitch), one of three major global rating agencies, also affirmed Pakistan's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'B-' on Monday.
Since the start of the year, Pakistan's external liquidity position and financing conditions have deteriorated significantly, according to Fitch Ratings.
Ratings outlooks downgraded by Fitch due to a host of other factors. Especially in the current environment of slowing growth and high inflation, renewed political volatility could undermine the authorities' fiscal and external adjustment.
A lack of political stability
Earlier this month, Fitch reported that former prime minister Imran Khan, who ousted by a no-confidence vote on 10 April, demanded early elections and held large protests.
With only a s...