ISLAMABAD: International rating agency Moody’s has said that the Rs 1 billion loan from the International Monetary Fund (IMF) and the issuance of recent sukuk bonds will boost Pakistan’s foreign exchange reserves.
Moody’s report on global sukuk bonds states that Pakistan issued sukuk bonds in January 2022, before Pakistan had auctioned Islamic bonds in 2017.
The report said that the 1 billion loan instalment from the International Monetary Fund and the auction of foreign bonds would increase Pakistan’s foreign exchange reserves, which are under pressure due to international payments.
