Pakistan foreign exchange reserves satisfactory to pay back foreign loans: Moody’s

NEW YORK: According to Moody’s Investors Service, Pakistan’s foreign exchange reserves are satisfactory enough to pay back foreign loans.

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However, Moody’s stated capability to pay back foreign loan could become weaker if the amount of loan increases further.

Although increase in investment in Pakistan is inevitable, Moody’s stated that the country has attracted heavy investment also due to the China-Pakistan Economic Corridor.

This rise in investment has called for the need to increase imports, as per the investor service.

Recently, China has been reported to have asked its state-owned companies to invest in Pakistan and transfer technology to the country under CPEC.

This was said by Dr Li Jing Feng, director of Regional Studies and Strategic Research Centre at Sichuan Academy of Social Sciences, Beijing, China, at a roundtable on “BCIM-EC & CPEC within China’s Belt-and-Road-Initiatives”.

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