Market Intelligence

IMF deal hopes nudge Pakistan bonds towards year-long highs


LONDON, April 15 () - Pakistan's dollar-denominated government bonds climbed towards their highest level in over a year on Monday as the country appeared to be closing in on a new International Monetary Fund (IMF) support programme.

Bonds were up as much as 0.5 cents , after Pakistan's state minister for revenue, Muhammad Azhar, tweeted that an "agreement in principle has been reached on all outstanding issues with IMF" after a visit to Washington by Finance Minister Asad Umar.

The long-delayed rescue package would be Pakistan's 13th IMF bailout since the late 1980s and comes with a worsening economic outlook for the South Asian nation of 208 million people.

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