S&P Global lifts Pakistan’s credit rating ‘B-’ from ‘CCC+’, outlook stable

A laborer carries a sack of pearl millet on his shoulders at a wholesale market in Karachi, Pakistan on June 10, 2025. (REUTERS/File)
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Updated 24 July 2025
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S&P Global lifts Pakistan’s credit rating ‘B-’ from ‘CCC+’, outlook stable

  • US-based financial information company says Pakistan’s finances, reserves stabilized by IMF support
  • S&P Global says Pakistan expected to continue to roll over commercial credit lines over next 12 months

LONDON: S&P Global raised Pakistan’s sovereign credit rating to ‘B-’ from ‘CCC+’ and placed it on a ‘stable’ outlook on Thursday, saying the country’s finances and reserves had been stabilized by International Monetary Fund support.

“The stable outlook reflects our expectations that continued economic recovery and government efforts to enhance revenue will stabilize fiscal and debt metrics,” ratings agency S&P said in a statement on the move.

“We also expect that sustained official financing will support Pakistan in meeting its external obligations, and that the country will continue to roll over its commercial credit lines over the next 12 months.”

Pakistan’s longer-dated international bonds rallied after the upgrade, with the 2051 maturity gaining 1.6 cents to be bid at 84.85 cents on the dollar, according to Tradeweb data.

The 2031 and 2036 maturities also gained around 1 cents, while shorted-dated maturities posted smaller gains.


Pakistani students stuck in Afghanistan permitted to go home

Updated 12 January 2026
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Pakistani students stuck in Afghanistan permitted to go home

  • The border between the countries has been shut since Oct. 12
  • Worries remain for students about return after the winter break

JALALABAD: After three months, some Pakistani university students who were stuck in Afghanistan due to deadly clashes between the neighboring countries were “permitted to go back home,” Afghan border police said Monday.

“The students from Khyber Pakhtunkhwa (northwest Pakistan) who were stuck on this side of the border, only they were permitted to cross and go to their homes,” said Abdullah Farooqi, Afghan border police spokesman.

The border has “not reopened” for other people, he said.

The land border has been shut since October 12, leaving many people with no affordable option of making it home.

“I am happy with the steps the Afghan government has taken to open the road for us, so that my friends and I will be able to return to our homes” during the winter break, Anees Afridi, a Pakistani medical student in eastern Afghanistan’s Nangarhar province, told AFP.

However, worries remain for the hundreds of students about returning to Afghanistan after the break ends.

“If the road is still closed from that side (Pakistan), we will be forced to return to Afghanistan for our studies by air.”

Flights are prohibitively expensive for most, and smuggling routes also come at great risk.

Anees hopes that by the time they return for their studies “the road will be open on both sides through talks between the two governments.”