Pakistan's fragile path to economic stability requires deeper reforms

Moody's upgrade offers optimism as IMF aid arrives, but structural challenges persist

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Pakistan Prime Minister Shehbaz Sharif, right, meets with managing director of the International Monetary Fund, Kristalina Georgieva, in Paris in June 2023. © Reuters

Imran Khalid is a Karachi-based geostrategic analyst and freelance writer.

After a long hiatus, Pakistan's economic outlook is showing signs of some optimism. For instance, Moody's in late August followed Fitch in upgrading the country's sovereign rating from Caa3 to Caa2, with a notable shift in outlook from stable to positive.

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