Fixed Income Analysis /
Pakistan

Pakistan: IMF Board approval grants temporary reprieve

  • The IMF Executive Board approved Pakistan's combined 7th and 8th programme reviews, trigging US$1.16bn disbursal

  • After recent rally, the lack of bond and currency response shows programme was priced in and concerns of slippage remain

  • Longer track record of reform is necessary to unlock further upside, which we estimate at c13pts on the '31s; retain Buy

Pakistan: IMF Board approval grants temporary reprieve
Patrick Curran
Tellimer Research
30 August 2022
Published byTellimer Research

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