A day after the International Monetary Fund (IMF) officially approved a $3 billion bailout package for Pakistan, the South Asian country’s sovereign dollar bonds saw gains up to 1.7 cents on Thursday
According to Tradeweb data, the largest increases were seen in the 2024 and 2027 maturities, with the latter climbing by 1.75 cents as of 06:29 GMT.
In comparison to the 2024, which is trading at its best price in more than a year at just under 80 cents, the 2027 is at a 10-month high of just over 53 cents on the dollar.
It is worth mentioning here that Pakistan also received $1 billion from the United Arab Emirates and $2 billion from Saudi Arabia earlier this week.Â
The crisis-hit country received an amount of $1.2 billion after IMF’s executive board gave a nod to $3 billion Stand-By Arrangement (SBA) after the two sides continued talks for months.Â
