This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Pakistan Bonds Inch Up After Halving its Trade Deficit
August 4, 2022
Pakistan’s bonds inched up along with a 4% jump in the Pakistani rupee (PKR) yesterday on news that the nation has halved its trade deficit in July to $2.6bn and that it is making progress in receiving a bailout from the IMF. Bloomberg notes that export-related payments rose and an imposition of import curbs reduced its imports by 13% to $4.9bn YoY, contributing to the improvement in its trade deficit. The curbs also reduced the demand for the dollar, in turn strengthening the PKR. Additionally, Esther Perez Ruiz, IMF’s country representative said that Pakistan has fulfilled all of IMF’s requirements before the loan review, renewing optimism that it will be able to avoid defaulting on its sovereign obligations amid dwindling reserves. Finance minister Miftah Ismail said, “Pakistan by having an IMF program, by introducing a significant tight budget and depressing demand for imports has weathered the storm.”
For the full story, click here
Go back to Latest bond Market News
Related Posts:
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.