Tough steps earn Moody’s outlook lift: SBP

Moody’s upgradation of Pakistan’s outlook from negative to stable is the recognition of tough decisions taken by the policymakers, including the steep devaluation of exchange rate, said Governor SBP Reza Baqir. Commenting on the increase in the stock market, he said that the rally is a reflection of the improving market sentiment and a growing reflection that the country’s finances are on a sustainable footing. Baqir said that such market developments are welcome but it is critical to ensure that the emerging financial improvements are translated into real gains for the middle and lower income classes.