Pakistan’s sovereign dollar bonds fell by one cent today (16 August) as investors feared the regional fallout caused by the turbulent political conditions taking place in Afghanistan’s capital, according to a report by an Asian news network.
Tradeweb data showed that this decline marks a nine-month low for Pakistan’s bond. The spreads on Pakistan’s hard-currency bonds over the US Treasuries had widened sharply during all of last week. Since 9 August, the cumulative impact has been of an addition of 25 basis points.
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Media reports from the Afghanistan side revealed that Taliban officials announced that peace has prevailed across Afghanistan on Monday.
Meanwhile, the Western nations have been scrambling to evacuate their citizens from Kabul airport, the news report added.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
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Jurisdiction: Pakistan