Pakistan eyes B+ sovereign credit rating by Sept 2027: finance minister

Finance Minister Muhammad Aurangzeb said on Thursday that he was hopeful Pakistan would reach a B+ sovereign rating by the end of this fiscal year or in the July to September quarter of 2027-28, according to Business Recorder. The minister also said it was too early to judge whether the present $7 billion IMF arrangement would be Pakistan's final programme. He added that a decision on the matter would come during FY27.

Pakistan is currently rated B with a stable outlook by S&P Global Ratings, a status held since July 2026, while Moody's lifted the country to B3 from Caa1 in August 2026. Aurangzeb counted three upgrades since April 2025 and said B+ has been Pakistan's best rating in the last 40 years. He said the government aims for the BB category, crediting the upgrades to an improving external economy, including record remittance inflows and reserves.

The SBP's reserves climbed to a record $21.44 billion in September 2026, lifting import cover to roughly three months, which matches the international benchmark. He said macro stability, the upgrades and the Pakistan International Airlines privatisation should draw more foreign direct investment from local and overseas investors. He was also optimistic the current account gap would stay within the initial zero to 1% of GDP band for FY27, despite oil prices above $100 per barrel amid Middle East tensions.