ISLAMABAD: Standard and Poor (S&P) Global has declared Pakistani economy stable after International Monetary Fund (IMF) $ 7 billion deal.

S&P Global Ratings affirmed its 'CCC+' long-term sovereign credit rating and 'C' short-term rating on Pakistan. Outlook on long-term rating is stable. IMF deal is expected to bring improvement in foreign exchange reserves, which will help Pakistan to meet its debt obligations. However, Pakistan is still dependent on rollovers to maintain its foreign debt. Despite stability, Pakistan will remain under economic pressure due to debt repayments. Inflation, monetary policy and uncertain situations may also affect economy. However, increase in foreign exchange reserves has reduced risk of default. To maintain economic stability, controlling foreign funds and current account deficits is essential. Funds from IMF, Saudi Arabia, UAE and China must be rolled over in time to support Pakistan's economic stability, report said.