KARACHI: Pakistan’s central bank said on Thursday recent credit rating upgrades underscored the country’s improving macroeconomic outlook, as Governor Jameel Ahmad used an Independence Day address to stress economic resilience and reforms.
The remarks came a day after Moody’s Investors Service upgraded Pakistan’s sovereign rating, citing stronger foreign exchange reserves, a current account surplus and fiscal consolidation. Analysts said the move could ease access to global capital markets and attract investment as Pakistan looks to consolidate gains under its $7 billion IMF program approved in September 2024.
“International credit rating agencies have upgraded Pakistan’s ratings in recognition of recent measures which will help unlock foreign investment opportunities,” Ahmad said at the State Bank of Pakistan’s (SBP) flag-hoisting ceremony in Karachi.
Ahmad noted the dramatic improvement in inflation, which had soared to 38 percent in May 2023 before easing to 11.8 percent by May 2024 and reaching a record low of 3.2 percent in June 2025.
“Our monetary policy remains geared toward maintaining the hard-earned gains in price stability, while ensuring inflation remains within 5–7 percent,” he said, adding that this would help “unlock broader economic and business opportunities.”
