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Pakistan's battered bonds rally again on fresh IMF hopes

Reuters
·1-min read

LONDON, Nov 17 (Reuters) - Pakistan's dollar-denominated government bonds rallied as much as 3 cents, or roughly 4%, on Friday as they continued to benefit from signs of ongoing International Monetary Fund support.

Pakistan's Caretaker Finance Minister Shamshad Akhtar told reporters on Thursday that the country would have to remain in IMF programmes when its current $3 billion Stand By Arrangement(SBA) expires in March next year, local media reported.

Speaking a day after the Pakistan had unlocked $700 million of its current IMF SBA, she also reiterated Pakistan's commitment to adhere to the fund's reforms programme to ensure the country remained on a narrow path towards stability. (Reporting by Marc Jones; Editing by Amanda Cooper)