Sovereign Analysis /
Pakistan

Pakistan: External risks to rise if IMF programme cannot be secured

  • Taliban takeover unlikely to have major economic impact and BOP is substantially improved, but starting to soften

  • Policy is shifting from stabilisation to growth, which could undermine IMF programme and associated external funding

  • Eurobonds will hinge on outcome of 3 September IMF review; retain Hold. Equity valuations appear cheap

Pakistan: External risks to rise if IMF programme cannot be secured
Patrick Curran
Hasnain Malik
Hasnain Malik

Strategy & Head of Equity Research

Tellimer Research
25 August 2021
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