In the Karachi Stock Exchange with a market capitalization of $ billion, over 700 listed companies showed average returns of 15 per cent that were higher than those in most emerging countries. This makes Pakistan an attractive place to invest for foreign portfolio investors.
Though this is an added cost of integration into the international financial landscape, the Caribbean must position itself to remain relevant in this new environment and will have little option or we run the risk of losing investment or of having to raise funds at higher costs if unrated. Our new regional credit rating agency is well-positioned to provide some of these services.