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Flood-ravaged Pakistan contests ratings downgrade by Moody's

Por: ABC News World October 07, 2022

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ISLAMABAD -- Pakistan on Friday contested a downgrading of its rating by Moody’s Investors Service, insisting it has adequate reserves and financing to pay back foreign debt despite the worst flooding in its history. Such downgrades tend to shake the confidence of investors because the action is seen as a warning that Pakistan is more likely to default on its foreign debts. Pakistan’s angry reaction comes a day after Moody’s revised... + full article



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