Moody's report shows mirror to Pakistan's economy, crisis may deepen
Moody's report shows mirror to Pakistan's economy, crisis may deepen
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New Delhi: Pakistan's economic condition is not hidden from the world for war on Kashmir issue with India. Still, Pakistan has the right to fight with a big country like India. The National Rating Agency, which works on economic issues, has released a report on Moody's Pak Economy. Referring to the deteriorating condition of the Pak economy in the report, it is feared that Pakistan's financial crisis could take a serious shape if the US-China trade tensions continue for a long time.

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Moody's has made a list of countries that may have to face a serious crisis on the economic front due to trade tensions between the US-China. The agency has also included Pakistan in this list. Pakistan's situation may be worsened due to too much dependence on foreign debt and very small scale reserve coverage for repayment of external debt. According to a Pakistani newspaper, Moody's spoke of a generally stable financial position with a slowdown in growth globally.

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However, according to the rating agency, the current tensions between the US-China and the global issues related to political confrontation and the emerging market and sovereign market in the emerging market may have a serious impact on some countries. According to the agency, some countries, including Pakistan, may face a financial crisis. According to the report, apart from Pakistan, countries like Sri Lanka, Egypt, Angola and Ghana may have the most impact on debt repayment capacity. Pakistan's financial health is completely dependent on foreign aid.

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