LONDON – Pakistan’s economy faces yet abother blow after the announcementof the Foreign Minister Asad Umar that Pakistan is seeking IMF loan.
The cost of insuring Pakistan’s sovereign debt against default fell 13basis points on Tuesday after the country’s finance minister Asad Umar saidon Monday the government would seek to open talks with the InternationalMonetary Fund this week.
Pakistan 5-year credit default swaps declined to 451 bps after closing at464 bps on Monday, according to data from IHS Markit.
