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Moody changes outlook to negative for Pakistan’s banking sector

–Report says tighter domestic monetary conditions fueled by a wide current account deficit and low foreign exchange reserves will impact economic activity

Moody’s investors’ service on Monday changed its outlook for Pakistan’s banking system down (B3 negative) to negative from stable.

According to the report, the banks’ operating conditions will be difficult due to slow down in Pakistan’s real GDP growth to 4.3% in the current financial year 2018-19, down from 5.8% in FY18.

Moody’s said tighter domestic monetary conditions fueled by a wide current account deficit and low foreign exchange reserves will imp…
Banking Industry News

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