Dawn
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13:12 Jun 28, 2025
Pakistan is leading the Global Emerging Markets (EM) Rankings, indicating improvement in default risk, Adviser to the Finance Minister Khurram Schehzad said on Saturday. The current government has reassured that the country has moved onto a path of economic recovery and growth, witnessing “economic stabilisation” after a period of turbulence and uncertainty. Some assessments by global rating agencies have signalled gradual improvements in key economic indicators. In a statement on X, Schehzad said, “As per the latest data posted by Bloomberg Intelligence, Pakistan stands out globally as the most improved economy in terms of reduction in sovereign default risk, as measured by CDS-implied probability.” He said that the country has topped the Global Emerging Markets rankings with the “largest drop in sovereign default risk globally over the last 12 months”. The statement said, “[The] default probability [went] down from 59 per cent to 47pc, a massive 1,100 basis points improvement.” “This marks the sharpest decl...