This upgrade was attributed to country's recent agreement with the International Monetary Fund
– Fitch Ratings, the global credit rating agency, on Monday upgraded Pakistan's long-term foreign-currency issuer default rating from CCC to CCC+.
It said that strong performance on the previous, more temporary IMF arrangement helped Pakistan narrow fiscal deficits and rebuild foreign exchange reserves. On the previous IMF programme, Fitch said Pakistan successfully completed its nine-month Stand-by Arrangement with the global lender in April.
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