DM Monitoring
BEIJING: Pakistan has been severely hit by a double whammy of the COVID-19 pandemic and the locust outbreak this year.
Now it seems that the government and people of Pakistan, with wisdom and courage, are finally overcoming the natural disasters.
Glimmers of hope are emerging for the economic recovery now, Cheng Xizhong, visiting professor at Southwest University of Political Science and Law said on Thursday.
Moody’s, an international rating agency, confirmed Pakistan’s credit rating at B3 with a stable outlook and observed that Pakistan’s economy is improving on August 8, he wrote in an article.
On August 11, Pakistan’s Federal Minister for Information and Broadcasting Shibli Faraz said at a press conference that the worst period of Pakistan’s economy has passed and the good days are coming.
Foreign exchange reserves of the State Bank of Pakistan have risen to 12.5 billion; exports are improving; foreign remittances are increasing and the stock market is seeing a boost.
