Moody’s Upgrade Signals Growing Global Confidence In Pakistan’s Economic Direction, Says RCCI President
Rawalpindi, (APP - UrduPoint / Pakistan Point News - August 25, 2026) President of the Rawalpindi Chamber of Commerce and Industry (RCCI), Usman Shaukat, has welcomed Moody’s Ratings’ decision to upgrade Pakistan’s sovereign credit rating from Caa1 to B3, terming it an encouraging sign of growing international confidence in the country’s economic policies and reform agenda.
In a statement on Tuesday, RCCI President Usman Shaukat stated that the upgrade was particularly noteworthy despite the significant challenges posed by global uncertainty, including the ongoing conflict in the region and tensions involving Iran and the United States.
He highlighted the positive impact this recognition from leading international financial institutions and credit rating agencies could have on the country:
"Moody’s upgrade reflects the progress made toward macroeconomic stabilization, improved fiscal management, and strengthening of Pakistan’s external position."
Usman noted the key factors Moody’s cited for the upgrade, including the steady buildup of foreign exchange reserves, lower domestic financing costs following monetary easing, and improvements in fiscal conditions. He also mentioned Pakistan’s foreign exchange reserves reaching approximately $17 billion by the end of July 2026, compared to around $14 billion a year earlier.
However, he cautioned against complacency, emphasizing that Pakistan must continue implementing structural reforms, broadening its tax base, improving governance, enhancing debt affordability, and fostering an environment conducive to private investment and high-productivity economic growth.
The RCCI President expressed optimism that continued economic reforms and policy consistency would lead to further improvements in Pakistan’s credit profile and reinforce international confidence in the country’s economic future.