Pakistan rejects Moody’s downgrading
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Finance Ministry on Thursday rejected Moody's downgrading of Pakistan terming it a unilateral process.
According to the 24News HD TV Channel, Moody's had downgraded Pakistan from B3 to CAA1 on Thursday.
Reacting to the act, the Finance Ministry said Moody's did not consult the three institutions before downgrading Pakistan.
The ministry said Pakistan had shared relevant data with Moody's in the last 24 hours which shows the country has sufficient financial resources.
The ministry also said that in the presence of these sufficient financial resources, Pakistan can repay the loans on time and maintain the growth rate.
Reporter: Waqas Azeem