Moody’s Investor Service warned that without an International Monetary Fund (IMF) program Pakistan could default as its financing options beyond June are “uncertain”. “We consider that Pakistan will meet its external payments for the remainder of this fiscal year ending in June,” a sovereign analyst with the rating company in Singapore Grace Lim said. “However, Pakistan’s financing options beyond June are highly uncertain. Without an IMF program, Pakistan could default given its very weak reserves,” he added.

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