Aurangzeb updates Fitch team on economic ‘achievements’

Finance Minister Muhammad Aurangzeb briefed officials of a global rating agency on Monday about Pakistan’s economy and the successful agreement with the International Monetary Fund (IMF) to stabilise macroeconomic indicators. A virtual meeting via Zoom was held five days after the Business Monitor International (BMI), a subsidiary of Fitch credit ratings firm, released its detailed analysis of macroeconomic and political variables to provide insight into emerging trends in Pakistan. Fitch forecast that the PMLN-led coalition government would remain in office for 18 months while implementing all IMF-mandated reforms. However, the rating agency cautioned that political turbulence could impact the country’s economy. An official announcement said that Mr Aurangzeb informed the rating agency about multilateral institutions’ confidence in financing Pakistan’s projects and briefed them about Pakistan’s