business

May 22, 2018

Credit profile reaffirmed as B3 stable: Moody’s sees CPEC as catalyst to growth

KARACHI: Moody’s Investors Service on Monday termed multibillion dollars China-Pakistan Economic Corridor projects as a catalyst to the country’s economic growth, but said CPEC-related imports and fiscal costs could worsen fragile external payment position and add to debt burden.“We continue to expect robust economic activity, driven by investments related to the CPEC,” the US credit ratings agency said in a report. “The high-level of imports, largely because of CPEC, continues to...