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 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,365.00 119,440.00
118,260.00
70.00
0.06%
BRENT CRUDE 72.75 73.17
71.75
0.24
0.33%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 69.43 69.79
68.45
0.22
0.32%
SUGAR #11 WORLD 16.42 16.58
16.40
-0.17
-1.02%

Chart of the Day


Latest News
July 30, 2025 at 05:17 PM GMT+05:00

Pakistan consumer confidence falls to 40.1 points in July


July 30, 2025 at 05:03 PM GMT+05:00

PKR rises by 10 paisa against USD


July 30, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: You Can’t Always Get What You Want


July 30, 2025 at 03:47 PM GMT+05:00

CCP resolves 223 cases, recovers Rs360m



Top 5 things to watch in this week

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