by Amruth Sundarkumar | Nov 9, 2022 | Sovereign Bonds, Sovereigns
Pakistan’s dollar bonds rallied by over 4 points across the curve as the nation secured ~$13bn in additional financial aid from its China and Saudi Arabia, as per its Finance Minister Ishaq Dar. He said that Pakistan is set to receive ~$9bn from China and $4bn...
by Amruth Sundarkumar | Oct 25, 2022 | Credit Ratings, Sovereign Bonds, Sovereigns
Pakistan was downgraded to CCC+ from B- due to an expected further deterioration in external liquidity and funding conditions due to the impact of floods, besides widening external deficits, shortage of forex reserves and other risks. Pakistan’s forex reserves...
by Amruth Sundarkumar | Oct 20, 2022 | Sovereign Bonds, Sovereigns
JPMorgan said that the prolonged decline in Pakistan’s dollar bonds is justified by the ravaging impact of the floods, warning that some debt payments may need to be suspended. The floods have added to Pakistan’s already existing troubled financial...
by Amruth Sundarkumar | Oct 13, 2022 | Sovereign Bonds, Sovereigns
Pakistan is looking to reschedule $27bn of its bilateral debt with various non-Paris Club countries, of which Chinese debt is about $23bn, according to the IMF. Pakistan said that it was not seeking to restructure debt from the Paris Club, as the quantum owed to it...
by Amruth Sundarkumar | Oct 11, 2022 | Sovereign Bonds, Sovereigns
Pakistan’s central bank deputy governor, Murtaza Syed announced on Monday that the sovereign is set to receive $4bn in additional funding from multilateral lenders, as the country is grappling with the aftermath of heavy floods. He added that $1.5bn is expected...
