Pakistan Dollar Bonds Rally After IMF Clears $3bn Bailout

7/13/23, 3:21 PM Pakistan dollar bonds rally after IMF clears $3bn bailout - Business - DAWN.
COM
TODAY'S PAPER | JULY 13, 2023
Pakistan dollar bonds rally after IMF clears $3bn bailout

Reuters | Published July 13, 2023 | Updated about 3 hours ago
0:00 / 1:54 1x 1.2x 1.5x
Pakistan’s sovereign dollar bonds gained as much as 1.7 cents, Tradeweb data showed on Thursday, after
the International Monetary Fund (IMF) gave the official sign-off for a $3 billion bailout.
The 2024 and 2027 maturities notched the strongest rallies, with the latter rising by 1.75 cents by 0629 GMT.
The 2027 is at a 10-month high of just over 53 cents on the dollar, while the 2024 is at its highest in more than a year trading
just under 80 cents.
RELATED
Pakistan, which has been teetering on the edge of default due to an acute foreign currency shortage, also got $1bn from the
United Arab Emirates and $2bn from Saudi Arabia earlier this week.
On June 29, the IMF and Pakistan reached a Standby Arrangement to ease the country’s financial crisis.
“The Executive Board of the International Monetary Fund approved a 9-month Stand-By Arrangement (SBA) for Pakistan
for an amount of SDR2,250 million (about $3 billion, or 111 per cent of quota) to support the authorities economic
stabilisation programme,” the global lender said in a statement.
It said the arrangement comes at a challenging economic juncture for Pakistan. “A difficult external environment,
devastating floods and policy missteps have led to large fiscal and external deficits, rising inflation and eroded reserve
buffers in FY23.”
The $3bn funding, spread over nine months, is higher than expected for Pakistan. Earlier, the country was awaiting the
release of the remaining $2.5bn from a $6.5bn bailout package agreed in 2019, which expired on June 30.
Now you can follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and
tech from Pakistan and across the world.
Read more
Pakistan dollar bonds extend rally
Trading in international bonds ‘distressed’ but no harbinger of default

https://www.dawn.com/news/1764484/pakistan-dollar-bonds-rally-after-imf-clears-3bn-bailout 1/13
7/13/23, 3:21 PM Pakistan dollar bonds rally after IMF clears $3bn bailout - Business - DAWN.COM
Govt bonds fail to attract dollars despite record returns
On DawnNews
،‫ ہر سوال کا جواب مالی مشکالت کے باوجود جنید جمشید نے قرض لوٹایا‬،‫ برطانیہ میں موجود ہوں‬،‫بھگوڑا نہیں‬ ‫ء تک پاکستان کی ٓابادی میں‬2027‘ :‫ِم ٓابادی‬
‫وجاہت رٔوف‬ ‫ شہزاد اکبر‬،‫دوں گا‬ ’‫ہ متوقع ہے‬
DAWN NEWS ENGLISH YouTube 960K
IMF $3Bn SBA Approval Land Disputes In Kurram Clashes May Scrapping Article 370 Why Does Ukrain
Will Pave Way For Kurram District Date Turn Into Sectarian Was On BJP’s Agenda: To Join Nato
Financing From Other Back To The 1980s: Violence: Faisal Karim Ex-CJ AJK
Countries: Shahbaz Rana Ihsanullah Tipu Mehsud Kundi
Latest Stories
Indian capital faces drinking-water shortage as pumps flooded Evacuations underway as floodwater enters 40 villages of Jhang
district: Punjab caretaker CM
Dar says IMF has transferred $1.2bn to SBP’s account Haji Gulbar Khan elected GB chief minister
Pakistan dollar bonds rally after IMF clears $3bn bailout Islamabad ATC issues bailable arrest warrants for Imran in
connection with violence outside courts
Ms Marvel and Pakistani documentary The Accused: Damned or Devoted bag nominations at 75th Emmy Awards
Fans celebrate Bilal Abbas Khan’s ‘glorious’ seven years in the industry
Nimra Bucha to star in adaptation of Agatha Christie’s Murder Is Easy for BBC, BritBox
Most Popular
01
Seized luxury car to be handed over to Bulgarian embassy
02
Cartoon: 12 July, 2023

Kurram clashes
03
04
Cartoon: 11 July, 2023
05
KP govt asks for army help to end Kurram conflict
06
Twitter better for ‘freedom of speech’, says senior Afghan Taliban official
07
9 soldiers embrace martyrdom as military winds up operation after ‘dastardly’ attack on Zhob garrison: ISPR
08
Pakistan receives $2 billion from Saudi Arabia: Ishaq Dar

Aiding investment
09
Must Read
Is the Supreme Judicial Council a tool of accountability or a dictatorial remnant?

Ahsan J. Pirzada
In light of the pervasive shortcomings of the SJC, it may be appropriate to re-evaluate the legal framework regulating the removal of superior
court judges.
Editorial: Pakistan’s progress hinges on the establishment of an empowered govt

through fair elections
Cracks papered over, but Fazl-Sharif gulf not fully bridged
How stories and guesswork impede accurate economic assessments and perpetuate rackets
The most substantial danger to Pakistan’s macroeconomic and financial stability stems
from climate shocks
Opinion
Emerging climate risks & IMF

Ali Tauqeer Sheikh
The IMF has steadily taken up climate risks as an integral part of its lending considerations.
Updated 13 Jul, 2023
Stories and guesswork
Khurram Husain
13 Jul, 2023
Vacuous governance
F.S. Aijazuddin
13 Jul, 2023
Two visions
Adeel Wahid
Worsening poll uncertainty
Zahid Hussain
Editorial
Election time
Has the PDM government formally decided to quit office in the first half of August?
13 Jul, 2023
Countering hate
THE adoption of a resolution on Wednesday at the UN Human Rights Council in Geneva condemning
religious hatred is a...
13 Jul, 2023
Historical failings
AWAY from the media’s obsessive limelight on domestic politics, a three-day international symposium,
organised to...
Kurram clashes
Locals in Kurram should not be abandoned by the state, left to deal with the escalating sectarian violence
on their own.
12 Jul, 2023
No takers?
THE Punjab government’s lethargy is puzzling. Repeating a demand that it had last made about eight
months ago, the...
12 Jul, 2023
Maternal mortality
SOME dismal data should force us to question ourselves: for how long will Pakistan’s mothers die to give
birth? A...

Pakistan Dollar Bonds Rally After IMF Clears $3bn Bailout - Business

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Pakistan Dollar Bonds Rally After IMF Clears $3bn Bailout - Business

Uploaded by

Copyright:

Available Formats

7/13/23, 3:21 PM Pakistan dollar bonds rally after IMF clears $3bn bailout - Business - DAWN.

TODAY'S PAPER | JULY 13, 2023

0:00 / 1:54 1x 1.2x 1.5x

Trading in international bonds ‘distressed’ but no harbinger of default

Govt bonds fail to attract dollars despite record returns

DAWN NEWS ENGLISH YouTube 960K

Seized luxury car to be handed over to Bulgarian embassy

Cartoon: 12 July, 2023

Cartoon: 11 July, 2023

KP govt asks for army help to end Kurram conflict

Pakistan receives $2 billion from Saudi Arabia: Ishaq Dar

Is the Supreme Judicial Council a tool of accountability or a dictatorial remnant?

Editorial: Pakistan’s progress hinges on the establishment of an empowered govt

Cracks papered over, but Fazl-Sharif gulf not fully bridged

Emerging climate risks & IMF

Updated 13 Jul, 2023

Stories and guesswork

Updated 12 Jul, 2023

Worsening poll uncertainty

Updated 12 Jul, 2023

You might also like