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S&P Global Ratings upgraded Pakistan’s long-term sovereign credit rating to B from B- with a stable outlook, crediting stronger institutions, sustained IMF-backed reforms, improved fiscal discipline, and a sharp rise in foreign exchange reserves to about $25.3 billion, boosting external financing capacity. The upgrade, welcomed by the government, is expected to boost international investor confidence, support continued growth and reform momentum, and open up new financing opportunities as Pakistan pursues a stronger fiscal stance in the coming years.
