Markets brace for Pakistan default risk as $7 billion debt looms
Pakistan is struggling to repay billions of dollars in debt, and investors are concerned about its ability to make future payments. The rupee has fallen sharply against the dollar, and the country's bonds have fallen in value. Moody's has downgraded Pakistan's credit rating to Caa3, and Fitch Ratings has warned that the country could default on its debt payments in the coming months.
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