Pakistan, April 13 -- Fitch Ratings has affirmed Pakistan's long-term foreign currency issuer default rating at 'B-' with a stable outlook. The global rating said progress on fiscal consolidation and macroeconomic stability supported the decision. It noted that reforms under the IMF programme have helped strengthen funding capacity. The outlook reflects cautious optimism about near-term stability.

The said Pakistan's foreign exchange buffers have improved over the past year. It added that these buffers provide some protection against external shocks, including Middle East tensions. Fitch also highlighted Pakistan's role as a ceasefire broker in regional conflicts. It said this role could offer limited economic and diplomatic benefits.

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