Economic turmoil could worsen
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Moody’s Investor Services warns that timely announcement of election results is crucial for Pakistan facing economic challenges. The stock market and dollar-denominated government bonds have plunged. Concerns have been raised by the US, UK, Australia, and the EU about irregularities in the electoral process. Pakistan's major export market is the US, and a significant portion of remittances comes from Western countries. The reliance on commercial loans and debt equity is on the West. The ongoing political uncertainty may be tackled by getting independents to abandon ship or seeking a rapprochement with them. The country's rating agencies have not upgraded Pakistan, and domestic borrowing has reached unprecedented levels. Inflation and unemployment continue to erode the quality of life. The fragile state of the economy cannot withstand any turmoil.

#Pakistan #EconomicTurmoil #ElectionResults #StockMarket #GovernmentBonds #Irregularities #ExportMarket #Remittances #RatingAgencies #Inflation #Unemployment

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