Rating analyses by global agencies, like Fitch, S&P & Moody’s, have faced flak for opacity of methods, over-reliance on perception. The space often witnesses ‘convergence’ of methodologies.
With agencies sticking to their methodology in these times, an emerging economy rating and outlook appear to be worse regardless of whether its government is fiscally prudent or not.
This decision is so damaging to the government that efforts will be made to ensure that it does not stand. The prosecution has said that it will file an appeal in the high court.
Bitcoin dropped as much as 3.8% to $63,038, while Ether, the second-largest token, slid 4.5% to $1,835. Roughly $128 billion in market value was erased across digital assets.
The Pakistani political leadership is weak and devoid of any intellect. Its diplomacy is entirely India-China-US focused and suffers from a presumptive view of Afghanistan as a vassal.
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