Fitch Revises Pakistan’s Outlook to Negative; Affirms at ‘B’

Pakistan’s rating is constrained by structural weaknesses relating to the level of development and governance indicators, Fitch says.

Fitch says measures have recently been taken to address trends, including some currency depreciation, tax rebates on exports, and import duties on non-essential items; however, these have proved insufficient thus far to arrest an ongoing decline in reserves

Political uncertainty and upcoming elections due by July 2018 are, in Fitch’s view, likely to constrain the government’s ability to address convincingly in near term

Outlook revised from stable; B rating affirmed Fitch Revises Pakistan's Outlook to Negative; Affirms at ‘B'.