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Iran-Pakistan relations

Iran's foreign minister says Tehran and Islamabad are opening a new chapter in their relations following a recent meeting between the Iranian president and Pakistan’s prime minister. Hossein Amir-Abdollahian made the remarks upon his arrival in Pakistan’s capital city for an official visit at the invitation of his counterpart, Bilawal Bhutto Zardari. He added that an economic delegation from Iran has already arrived in Islamabad. Amir-Abdollahian said he will discuss the two countries’ relations in such areas as politics, economy, trade, and tourism with high-ranking Pakistani officials. Iran's top diplomat said the existence of numerous commonalities between the two neighbors allows them to further expand their relations. He added that during his meetings with Pakistan’s top officials a timetable will be drawn up for Iranian President Ebrahim Raeisi’s trip to Pakistan.

US credit rating

US stocks have taken a nosedive after Fitch Ratings agency downgraded the country’s credit rating by a notch from AAA to AA+. On Wednesday, the Dow Jones Industrial Average shed almost 350 points or 1.0 percent, while the broad-based S&P 500 dropped 1.4 percent. The tech-rich Nasdaq Composite Index tumbled 2.2 percent. Fitch attributed the US credit rating downgrade to expected fiscal deterioration over the next three years and the government’s growing debt. This is the second time a major ratings agency has lowered the US rating, after S&P made a similar move in 2011. Treasury Secretary Janet Yellen has criticized the  downgrade of the main US credit rating, calling it entirely unwarranted. She claimed Fitch has ignored improvements in governance metrics under the Biden administration and the country's economic strength.

Niger coup

The leader of Niger’s recent coup has rejected international sanctions, vowing not to bow to threats to reinstate ousted President Mohamed Bazoum. In a televised address, Abdou-rahamane Tiani described the sanctions as illegal, unjust and inhumane. He said the sanctions are designed to humiliate Niger and its defence and security forces, and make the country ungovernable. This, after a West African bloc imposed trade and financial sanctions on Niger, and even threatened to use force if the ousted president is not reinstated by Sunday. The bloc has sent a delegation to Niger to negotiate with the military officers who have seized power. West African leaders have said they will no longer tolerate coups in the region. Mali, Burkina Faso and Guinea are currently run by juntas while Guinea-Bissau has seen an attempted coup. Mali and Burkina Faso have warned that any military intervention in Niger would be considered a declaration of war against them too.

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