Not a good sign at all, what’s the criteria that we’re now failing to meet that we had met before? I think we were upgraded to EM status in 2017
many intl funds will likely exit PSX if we are downgraded to FM
i see a stock market dip
Back in 2017 Pakistani currency was way overvalued by absconder ex finance minister Ishaq Dollar. It gave false impression to investors about the true health of Pakistani economy. But you cannot fool the investors forever. Eventually Miftah Ismael, the new finance minister devalued PKR because overvalued PKR could not be artificially maintained as it was draining forex reserves and bankrupting Pakistan. That's why Pakistani stock market and economy crashed in USD terms post 2018. Patwaris like @Desprado and @muhammadhafeezmalik would never understand this obvious. For them all the blunders are caused by PTI when in fact PKR was artificially overvalued during their absconder leader Nawaz Sharif govt.