KARACHI: Pakistan’s Eurobonds and Sukuk are emerging as the best-performing bonds in the global market, reflecting the growing confidence of foreign investors in Pakistan and the newly elected government following the election.
According to Arif Habib Limited, Pakistan’s $1 billion worth of 10-year bonds maturing on April 15 hit a record high of 98.11 cents on February 7. Global investors currently hold $7.80 billion in Pakistani bonds. have invested, which will mature in different years from April 2024 to April 2051.
Tahir Abbas, head of research at Arif Habib Limited, said that the price of Eurobonds has doubled in the last seven months, and they have emerged as the best bonds in the world. And there is the likely takeover of the IMF program by the new government after the election, and the central bank’s projected policy rate cut until December 2024.
