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The New York-based Moody’s rating agency on Thursday expressed concern over Pakistan’s falling reserves and rising debt. The long-term outlook remains “robust”, though, due to improved power supply and infrastructure and better security. The PTI government’s promises for institutional reforms are credit positive, “if effectively implemented,” the rating agency said in its annual credit analysis for Pakistan. It reaffirmed the country’s rating at B3 negative, which “reflects the sovereign’s high external vulnerability, weak debt affordability, and very low global competitiveness.”
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