Global credit rating agency says Pakistan’s external position under significant stress

A sign for Moody's rating agency stands in front of the company headquarters in New York, September 18, 2012. (AFP/FILE)
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Updated 10 February 2023
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Global credit rating agency says Pakistan’s external position under significant stress

  • Moody’s says revenue-raising measures will likely be among prior actions IMF requires from Pakistan
  • Talks with the IMF aimed at unlocking at least $1.1 billion of stalled funding ended without a deal

NEW YORK: Revenue-raising measures will likely be among prior actions that the International Monetary Fund (IMF) requires before releasing the next tranche of financing to Pakistan, Moody’s Investors Service said in a statement on Friday.

Pakistan and the IMF will resume talks virtually next week after 10 days of face-to-face discussions in Islamabad on how to keep the country afloat ended without a deal.

The talks are aimed at unlocking at least $1.1 billion of stalled funding for the South Asian country.

“Pakistan’s government liquidity and external vulnerability risks are elevated, and there remains considerable risks around Pakistan’s ability to secure required financing to fully meet its needs for the next few years,” Moody’s said.


Foreign investors to converge in Lahore as Pakistan hosts major IT expo this month

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Foreign investors to converge in Lahore as Pakistan hosts major IT expo this month

  • Over 350 global investors will participate in the three-day event scheduled to begin on Jan. 17
  • ITCN is Pakistan’s largest IT expo focusing on cybersecurity, AI, cloud computing and e-commerce

ISLAMABAD: Pakistan will host the Information Technology & Telecom Network (ITCN) Asia 2026 exhibition in the eastern city of Lahore from Jan. 17 to 19, the state broadcaster reported on Wednesday, bringing together more than 350 international investors and delegates.

ITCN Asia is Pakistan’s largest information and communications technology exhibition and conference, which is regularly held to highlight developments in fields including cybersecurity, cloud computing, artificial intelligence, e-commerce and digital governance.

The three-day event will feature more than 150 exhibition booths, showcasing over 3,000 global brands.

“A three-day prestigious global event ITCN Asia 2026 will commence in Lahore on the 17th of this month,” Radio Pakistan said in a report.

“The federal and provincial ministers, policymakers, industry leaders and international experts will participate in the exhibition.”

Pakistan has actively sought foreign investment in its technology sector, as the country’s startups and software houses have attracted global interest in recent years.

The country’s IT exports rose by $180 million to $1,057 million during July-September last year, compared with $877 million in the same period of 2024, according to the information technology ministry.

Pakistan’s technology sector is also advancing in AI and cloud computing, marked by the launch of Pakistan’s first sovereign AI cloud in November, designed to keep sensitive data domestic and support growth in the broader digital ecosystem.

Radio Pakistan said the second leg of the ITCN Asia 2026 exhibition will take place in Pakistan’s port city of Karachi from Sep. 22-24.