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UAE Welcomes Ceasefire Agreement Between Pakistan and Afghanistan – A New Chapter of Hope for the Region

In a major diplomatic breakthrough, the United Arab Emirates has welcomed the ceasefire agreement between Pakistan and Afghanistan, calling it a positive and humanitarian step towards restoring peace and stability in the region. The UAE’s statement reflects its consistent role as a bridge for dialogue, unity, and cooperation among Muslim nations. The Ministry of Foreign Affairs of the UAE praised the mediation efforts of Qatar and Türkiye, acknowledging their contribution in bringing both sides to the table. This gesture underlines the UAE’s belief in collective diplomacy that lasting peace is achieved not through pressure, but through partnership and understanding. UAE officials described the ceasefire as “a humanitarian victory more than a political achievement”, emphasizing that calm along the Pakistan-Afghanistan border will open doors for trade, education, and cross-border cooperation. For Pakistan, this peace offers renewed opportunities for economic growth and border stab...
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Fitch upgraded Pakistan’s ranking.

 Fitch Ratings recently upgraded Pakistan's Long-Term Foreign-Currency Issuer Default Rating (IDR) from 'CCC' to 'CCC+', reflecting improved confidence in the country's external funding prospects and fiscal management. This positive shift follows Pakistan's agreement with the International Monetary Fund (IMF) on a new 37-month Extended Fund Facility (EFF) worth $7 billion, which aims to stabilize the economy and address fiscal challenges.


The upgrade is attributed to several factors, including Pakistan's successful performance under the previous IMF arrangement, which helped narrow fiscal deficits and rebuild foreign exchange reserves. This progress has increased certainty over the continued availability of external funding, which is crucial for the country’s economic stability.


Support from international creditors, including China, Saudi Arabia, and the UAE, has also played a significant role. These nations have provided substantial financial backing, aiding Pakistan in managing its foreign debt obligations. The country is also implementing key economic reforms, such as widening the tax net and reducing energy subsidies, to enhance fiscal discipline.


Despite the positive outlook, challenges remain. Fitch notes the volatile political climate and substantial external financing requirements pose risks to program implementation. However, the approval of the IMF agreement is expected to catalyze other funding sources, anchoring policies around the upcoming parliamentary elections.


This rating upgrade has had an immediate positive impact on Pakistan's financial markets, with dollar bonds showing gains. Investors are cautiously optimistic as the nation continues to navigate its economic recovery amidst these significant reforms and external financial support.

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