Staff Report
ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif on Monday welcoming Bloomberg’s recent positive report on Pakistan’s economy said that the notable decrease in the price of Pakistan’s Credit Default Swap (CDS) reflected a consistent increase in global investors’ confidence in the country’s economy.
According to the report, there has been a significant reduction of 2,200 basis points in the default risk implied in Pakistan’s CDS, a press statement issued by the PM Office said.
Pakistan is now the second country among emerging economies, following Turkiye, in the global rankings, which is great news for our economy, the prime minister said adding that at the end of the previous government’s tenure, the country was on the brink of default.
He said today’s report was a crucial milestone and a reflection of the government’s journey towards progress.
“With the relentless efforts of the Government of Pakistan and the cooperation of both the Pakistani and global business communities, the promise of Pakistan’s development is now on track,” the prime minister said.
He stressed that this journey of progress will never halt.
