Published On: Sep 14, 2019

The Europe India Commerce Chamber has urged the European Union (EU) to withdraw preferential status to Pakistan. The economy of Pakistan is crumbling and further trade restrictions will make its economic condition worse. Credit rating agency Moody's Investors Service has placed Pakistan among countries that might face serious financing issues in the extreme scenario under the ongoing US-China trade tensions as Islamabads reliance on foreign currency borrowing and thin reserve coverage of external debt payments have weakened its debt affordability.  

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