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Pakistan Assets Rally Amid Bets for IMF Bailout This Month

  • Rupee surged 11% in August to become global top performer
  • IMF board set to meet on Pakistan’s loan on August 29
Updated on

Pakistan’s rupee, bonds and stocks are rallying as investors bet the nation will win a bailout from the International Monetary Fund this month and avoid a default.

Dollar bonds due in December were indicated at about 95 cents on the dollar on Tuesday from a low of 85 cents in July, as investors turn more confident the debt will be repaid. The rupee surged 11% this month to 213.87 per dollar as of Monday, the biggest gainer in the world. The benchmark stock index climbed 9%, the top performer in Asia after Sri Lanka.