Pakistan

Pakistan central bank strikes optimistic tone on economic and reform outlook

  • Resumption of IMF programme has unlocked needed funding, growth and inflation are on the rise, and reserves are growing

  • SBP is committed to reform agenda under IMF programme, which is encouraging, but margin for error is thin

  • Pakistani eurobonds have outperformed this year, which we think is justified by IMF programme; retain Hold

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This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").

The Analyst certifies that the views and forecasts expressed in this report accurately reflect their personal views about the subject, securities, or issuers specified herein. In addition, the Analyst certifies that no part of their compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in this report.

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