Pakistan bond sell-off to end with IMF support, Goldman Sachs says

By MG News | February 16, 2024 at 10:13 AM GMT+05:00

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February 16, 2024 (MLN): Goldman Sachs Group Inc. says Pakistan's dollar bonds will rebound, overcoming a fractured election mandate, as the leaders of the emerging coalition understand the gravity of the economic crisis and will work together to secure International Monetary Fund aid, as Bloomberg reported.

The South Asian nation's bonds rallied Thursday, led by notes maturing in April 2024, after the third-biggest group in the new parliament pledged support for former Prime Minister Shehbaz Sharif to take office again.

Sharif already has a track record with the IMF, having obtained a nine-month, $3 billion program from the multilateral lender last June.

The latest bond gains helped pare post-election losses that had reached 5% amid a split verdict.

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