Pakistan’s bonds slump on report UN DP to recommend debt restructuring

Pakistan’s bonds slump on report UN DP to recommend debt restructuring

Pakistan’s bonds slump on report UN DP to recommend debt restructuring By Reuters

Breaking News


Economy 43 minutes ago (Sep 23, 2022 05:36AM ET)

(C) Reuters. FILE PHOTO: The United Nations headquarters building is pictured with a UN logo in the Manhattan borough of New York City, New York, U.S., March 1, 2022. REUTERS/Carlo Allegri

LONDON (Reuters) – Pakistan’s bonds slumped on Friday, leaving many at half of their face value after a Financial Times report that the United Nations Development Programme was set to publish a memo urging the country to restructure its debt.

Long-term worries about Pakistan’s finances have been compounded over the last month by devastating Monsoon floods.

Friday’s moves saw one of its main bonds due for repayment in 2024 slump over 9 cents to around 50 cents on the dollar. Another due in 2027 fell to around 45 cents.

Pakistan’s bonds slump on report UN DP to recommend debt restructuring

Analysis-Some U.S. firms wait to issue bonds in a bet rates will come downBy Reuters – Sep 23, 2022

By Shankar Ramakrishnan and Matt Tracy (Reuters) – Some U.S. companies with the best credit ratings are looking at shorter-term debt solutions as a bridge to a better funding…

Historic tax cuts and borrowing define Britain’s new economic agendaBy Reuters – Sep 23, 2022

By David Milliken and Andy Bruce LONDON (Reuters) -Britain’s new finance minister Kwasi Kwarteng unleashed historic tax cuts and huge increases in borrowing on Friday in an…

ADB head says FX intervention among tools for emerging AsiaBy Reuters – Sep 23, 2022

By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Capital controls and currency intervention are among tools emerging Asian policymakers can use if rapid U.S. interest rate…

Our Apps

Terms And Conditions
Privacy Policy
Risk Warning

(C) 2007-2022 Fusion Media Limited. All Rights Reserved.

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.