KARACHI: The price of Sukuk and Eurobonds issued by Pakistan has accelerated in the global market after the IMF announced on September 25 that it would consider issuing a package to Pakistan.
Topline Research said in its weekly report that sovereign bonds rose by 2 cents to 19 cents in the week ended September 13 compared to the previous week. Some bonds had fallen in value and some remained frozen due to the IMF announcement, but now signs of improvement have started to be seen.
Pakistan’s $800 million 30-year global bond maturing in April 2051 rose 19 cents to 77 cents a unit, while another 30-year bond maturing in March 2036 rose 19 cents to 77 cents a unit, according to the latest data. The price of I mature will increase by 18 cents to 75.7 cents per unit.
The $500 million 10-year bond maturing in September 2025 rose 2 cents to 97.3 cents per unit.
Speaking to The Express Tribune, Saad Hanif, Research Head of Ismail Iqbal Securities, said that after the announcement by the IMF to consider a loan package for Pakistan, an atmosphere of uncertainty has been cast over the Pakistani economy, due to which The price of Pakistani bonds has increased.
Tahir Abbas, Head of Research, Arif Habib Limited, said that after the announcement of the IMF, the confidence of the international financial institutions and other sources has been restored and after the approval of the IMF program, Pakistan will be able to get loans from other sources as well. , which will increase the supply of dollars in the local market, thereby further increasing the interest of global investors in the bonds issued by Pakistan.
After the IMF program and improved credit rating, the government is expected to once again turn to the global market to sell panda bonds, Eurobonds and sukuk bonds, he said, adding that the policy rate cut would also boost the price of Pakistani bonds. There is an important reason.
