- October 2, 2026
- Posted by: Tresmark
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Pakistan is targeting an upgrade to a ‘B+’ sovereign credit rating by September 2027, Finance Minister Muhammad Aurangzeb said, citing continued macroeconomic stability and structural reforms.
Speaking at the Overseas Investors Chamber of Commerce and Industry (OICCI), Aurangzeb said Pakistan could reach the rating by the end of FY27 or during the first quarter of FY28 if the current reform trajectory continues.
Pakistan is currently rated ‘B’ with a stable outlook by S&P Global Ratings, while Moody’s upgraded the country to ‘B3’ from ‘Caa1’ with a stable outlook in August 2026.
The minister said improvements in remittances, foreign exchange reserves and the external account had supported recent rating upgrades. SBP-held reserves reached $21.44 billion in September, providing around three months of import cover.
Aurangzeb also said it was too early to determine whether the ongoing $7 billion IMF Extended Fund Facility would be Pakistan’s final IMF programme, adding that the government would assess the matter during FY27.
He further projected 4% economic growth in FY27, compared with 3.7% recorded in FY26, while expressing confidence that the current account deficit would remain within the government’s target range of 0–1% of GDP.
