• Download the Constitution of Pakistan
  • Advertise
WRITE FOR US
Economy.pk
No Result
View All Result
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos
No Result
View All Result
Economy.pk
No Result
View All Result
Home Business

Pakistan’s default risk spikes reach a new high of 64.2%

by Suneela Zulfiqar
November 15, 2022
in Business, Finance, Main
Reading Time: 1 min read
Pakistan’s default risk spikes reach a new high of 64.2%
Share on FacebookShare on Twitter

On Monday, the five-year currency default swap (CDS) index for Pakistan increased 4.2 percentage points to a new high of 64.2%, indicating that the nation lacked the resources to make the increasing import payments and timely repayments of its foreign debt.

Pakistan is expected to pay back $1 billion in relation to a five-year Sukuk (a bond that complies with Shariah) that would mature on December 5, 2022.

According to Topline Research, the yield (rate of return) on the Sukuk increased by 964 basis points in a single day to 69.96%. Investors may be concerned that the nation may not be able to repay the $1 billion Sukuk, according to the jump in yield.

State Bank of Pakistan (SBP) Governor Jameel Ahmad, however, clarified during the day that the country had foreign exchange reserves of “over $9 billion, which are more than enough” to pay for imports and repay foreign debt.

Following Pakistan’s announcement that Saudi Crown Prince Mohammad bin Salman had postponed his visit to Islamabad and that a new date would be revealed soon, the five-year CDS displayed a high probability of default.

Over $10 billion in investments were anticipated to be announced by the crown prince during his visit. Pakistan’s foreign exchange reserves would have increased as a result of the expected inflows.

Tags: currency default swapdefault risklatestState Bank of Pakistan
Suneela Zulfiqar

Suneela Zulfiqar

Related Posts

SBP's Interbank Closing Currency Exchange Rates in Pakistan, October 3, 2023

SBP’s Interbank Closing Currency Exchange Rates in Pakistan, October 3, 2023

Pakistani Currency Exchange Rates for Various Currencies on October 3, 2023, as per State Bank of Pakistan (SBP). USD to...

Pakistan mulling to sell Reko Diq shares to Saudi investors

Pakistan mulling to sell Reko Diq shares to Saudi investors

Following the kingdom's interest in the copper-gold mining project, the federal government is considering selling its shares in the Reko...

Intraday Update: Rupee's Strong Performance Against US Dollar

Intraday Update: Rupee’s Strong Performance Against US Dollar

The Pakistani rupee gained 0.39% against the US dollar during the first hours of trade in the interbank market on...

Supreme Court resumes hearing on law clipping CJP's powers

Supreme Court resumes hearing on law clipping CJP’s powers

A full court bench, headed by Chief Justice of Pakistan (CJP) Qazi Faez Isa, reconvened on Tuesday to resume proceedings...

Interbank Closing Currency Exchange Rates in Pakistan by SBP - October 2, 2023

Interbank Closing Currency Exchange Rates in Pakistan by SBP – October 2, 2023

In this report, you will find the official SBP interbank closing exchange rates in Pakistan for October 2, 2023, as...

Cnergyico imports Pakistan’s first private-sector Russian crude cargo

Cnergyico imports Pakistan’s first private-sector Russian crude cargo

Cnergyico, a Pakistani refiner, announced on Monday that it has imported the country's first private-sector supply of Russian crude oil,...

Next Post
US $450 million F-16 fighter jet aid is not monetary help: State Department

US $450 million F-16 fighter jet aid is not monetary help: State Department

Recent Posts

  • In Major Milestone, First-ever Women’s Cricket Match Held in Swat, Pakistan
  • Mahira Khan Shares Highlights from Her Wonderful Wedding with ‘Shehzada Salim’
  • Ideal Bank Statement for a Canada Visit Visa Application from Pakistan
  • SBP’s Interbank Closing Currency Exchange Rates in Pakistan, October 3, 2023
  • Trio won 2023 Nobel Prize in Physics for use of light to study electrons

Advertisement

Twitter

Economy.pk

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Categories

  • Economy
  • Politics
  • Technology
  • Education
  • Life & Style
  • Health
  • World
  • Videos

Privacy & Legal

  • Privacy Policy
  • Cookies

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • About
  • Advertise
  • Contact

© 2023 Economy.pk

No Result
View All Result
  • VIDEOS
  • World
    • Europe
    • Americas
    • Asia
    • Oceania
    • Africa
    • Middle East
  • Finance
  • Politics
  • Business
    • Economy
    • Finance
    • Entrepreneurship
    • Real Estate
  • Technology
    • Cyber Security
    • Mobiles
    • Social Media
  • Education
  • Sports
  • Life & Style
    • Personalities
    • Art
    • Culture
    • History
    • Entertainment
    • Fashion
    • Food
    • Health
      • Environment
      • Fitness
  • Sponsored

© 2023 Economy.pk