Political turmoil in Pakistan weighs on bond prices
Political turmoil in Pakistan weighs on bond prices
15:20
March 15, 2023
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March 15, 2023 (MLN): The decline in Pakistan's 2024 bonds has been observed on the sixth consecutive day, investors monitoring developing-nation peers through Bloomberg have noted.
This drop is believed to be due to ongoing clashes between supporters of former Prime Minister Imran Khan and the police. The debt due in 2024 was down 5 cents, indicating 46 cents on the dollar.
Other maturities, including those due in 2025, 2026, 2027, and 2029, were also showing signs of weakening.
Meanwhile, Imran Khan's supporters have been battling the police, who are attempting to arrest him.
The political turmoil in Pakistan has left investors wary, leading to a decrease in bond prices.
However, Prime Minister Shehbaz Sharif has announced that the national polls scheduled for September and October will not be delayed, despite the ongoing unrest.
The situation in Pakistan remains uncertain, with investors keeping a close eye on any further developments that may impact the country's financial stability.
