ISLAMABAD - Minister for Planning and Development Asad Umar said on Saturday that Moody’s reconfirmation of Pakistan’s credit rating with a stable outlook reflected that Pakistan’s economy was witnessing a V-shaped recovery amid COVID-19 pandemic.

In the middle of a global pandemic it was a testimony to the V shaped recovery, Pakistan had seen, Umar said in his tweet. He said the economic recovery could become possible due to prime minister Imran Khan’s balanced approach to safeguarding national health and livelihoods, delivering success on both counts.

Meanwhile, Senator Shibli Faraz on Saturday said international institutions acknowledged Pakistan government’s economic management despite Covid-19 whcih was an outstanding achievement. 

In a tweet, the minister tagged a newspaper report which had the headline “Moody’s upgrades Pakistan’s outlook to ‘Stable’ from ‘under review for downgrade’.”

The newspaper report said, “Moody’s Investors Service on Saturday confirmed Pakistan’s B3 credit rating with a stable outlook, as it concludes the review for downgrade initiated on May 14, 2020”.