Political turmoil increases Pakistan's default risk

MG News | February 12, 2024 at 09:23 AM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

February 12, 2024 (MLN): The election outcome points to increased political instability, casting a darker shadow over growth and prospects for securing International Monetary Fund (IMF) aid the country needs to avoid default, said Bloomberg.

With no party winning a majority, and a strong performance by independents backed by Imran Khan (who is in jail and whose party was banned from running), the formation of a coalition government is likely to be challenging and chaotic, it added.

This could lead companies to put investments on hold.

Continued political instability could put a new aid package from the IMF in jeopardy, raising default risk.

The results of the February 08 elections were a surprise. Independent candidates, most of them backed by Khan, won more seats than any major political party, taking 101 of the 265 contested National Assembly seats.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	179,365.80 283.81M	0.94% 1672.87
ALLSHR	108,443.59 534.05M	0.85% 916.20
KSE30	53,476.39 102.45M	0.86% 453.51
KMI30	256,278.17 95.51M	0.58% 1488.90
KMIALLSHR	70,483.21 361.91M	0.78% 546.07
BKTi	48,656.55 23.34M	1.44% 689.91
OGTi	37,012.07 4.10M	0.48% 178.41

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	62,570.00	63,045.00 62,390.00	205.00 0.33%
BRENT CRUDE	75.62	77.00 75.59	-1.46 -1.89%
RICHARDS BAY COAL MONTHLY	115.00	0.00 0.00	0.50 0.44%
ROTTERDAM COAL MONTHLY	125.90	125.90 125.90	-0.15 -0.12%
USD RBD PALM OLEIN	1,157.50	1,157.50 1,157.50	0.00 0.00%
CRUDE OIL - WTI	71.82	73.18 71.80	-1.39 -1.90%
SUGAR #11 WORLD	13.86	13.96 13.83	-0.09 -0.65%