Macro Analysis /

Pakistan Strategy - Ultra-cheap but little room for complacency

  • August saw the KSE100 gain 14.3% in US$, as confidence returned and the PKR recovered. Volumes rebounded too

  • The IMF programme has resumed, but floods complicate the recovery while politics still has the potential to jar

  • It may take until the new elections for a new cycle to start, but the risk-reward is already deeply attractive

Raza Jafri
Raza Jafri

Executive Director, Research

Intermarket Securities
30 August 2022


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