Sovereign Analysis /
Pakistan

Pakistan: Upgrade to Buy after positive IMF review and policy shift

  • Staff-level approval of IMF review and policy rate hike greatly improve macro/reform outlook

  • Upgrade recommendation on eurobonds from Hold to Buy, albeit with underperformance now largely erased

  • Lower FX and political risk reopens equities investment case for foreigners comfortable with low liquidity

Pakistan: Upgrade to Buy after positive IMF review and policy shift
Patrick Curran
Hasnain Malik
Hasnain Malik

Strategy & Head of Equity Research

Tellimer Research
22 November 2021
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