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Bond Market News
Pakistan’s Dollar Bonds Up 2-4% on Hopes of Sealing IMF Deal
June 28, 2023
Pakistan’s dollar bonds have continued to rally between 2-3% over hopes that it will finally regain access to its $6.7bn bailout program by the IMF that has been stalled since November. This comes a day after its parliament approved its revised budget. The IMF has now given positive comments regarding the revised budget, saying that the policies are “more in line with the economic reform programme supported by the (IMF)”. The bailout programme has about $2.5bn of funding remaining and is set to expire in two days.
Pakistan’s 7.375% 2031s rallied by 3.8% to trade at 39.4 cents on the dollar.
For more information regarding IMF’s comments, click here.
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