Pakistan's Dollar bond rally expected to extend into 2024 amidst IMF optimism

News Image

MG News | January 03, 2024 at 10:06 AM GMT+05:00

0:00

January 03, 2024 (MLN): Pakistan's dollar bonds will rally for a second year as the government is expected to secure another bailout from the International Monetary Fund, according to investors, as Bloomberg reported.

UBS Asset Management and William Blair Investment Management see their bonds remaining attractive after almost doubling in 2023. Sideman Rafiq Maniya, an independent wealth manager in Karachi, says 95,9 44 be as much as 37% in the next 18 months.

Pakistan succeeded in averting a sovereign default after securing a $3 billion bailout from the IMF in July.

The move catapulted the nation's bonds to rank among the top performers in the world last year. While the gains are expected to moderate, reforms such as raising fuel and electricity prices may open the door for another round of funding.

"They seem committed to this IMF program, and that is a significant point because it suggests there is a big likelihood for them to get another bailout," said Johnny Chen, fund manager at William Blair in Singapore.

"There is also strong potential for reforms to pick up momentum after the elections," he further added.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 134,299.77
290.06M
0.39%
517.42
ALLSHR 84,018.16
764.12M
0.48%
402.35
KSE30 40,814.29
132.59M
0.33%
132.52
KMI30 192,589.16
116.24M
0.49%
948.28
KMIALLSHR 56,072.25
387.69M
0.32%
180.74
BKTi 36,971.75
19.46M
-0.05%
-16.94
OGTi 28,240.28
6.19M
0.21%
58.78
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,140.00 0.00
0.00
-390.00
-0.33%
BRENT CRUDE 70.63 70.71
68.55
1.99
2.90%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.10
1.14%
ROTTERDAM COAL MONTHLY 108.75 108.75
108.75
0.40
0.37%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.75 0.00
0.00
0.30
0.44%
SUGAR #11 WORLD 16.56 16.60
16.20
0.30
1.85%

Chart of the Day


Latest News
July 13, 2025 at 06:20 PM GMT+05:00

Pakistan, UK to sign Trade Dialogue ToRs


July 13, 2025 at 05:48 PM GMT+05:00

Key Pakistan Market Stats and Economic Indicators


July 13, 2025 at 05:44 PM GMT+05:00

Inside NCCPL’s Rulebook Shift


July 13, 2025 at 01:57 PM GMT+05:00

Weekly Market Roundup


July 13, 2025 at 10:26 AM GMT+05:00

K-Electric dispels rumours of peak hour changes



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg