IMF funding hopes lift Pakistan stocks, bonds as government scraps fuel price freeze

  • 📰 malaymail
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 86%

Brasil Notícia Notícia

Brasil Últimas Notícias,Brasil Manchetes

KARACHI, May 27 — Pakistan’s stocks, sovereign bonds and currency were lifted today by growing hopes that the country can unlock funding from the International Monetary Fund...

KARACHI, May 27 — Pakistan’s stocks, sovereign bonds and currency were lifted today by growing hopes that the country can unlock funding from the International Monetary Fund after the government’s overnight decision to end a months-old freeze on fuel prices.

Late yesterday the government announced it would hike fuel prices after an agreement with the IMF that included an end to fuel subsidies, allowing the resumption of aid from a US$6 billion package signed with the IMF in 2019. “The market is reacting to the government’s move to withdraw fuel subsidies,” Saad Hashemy, executive director at BMA Capital Management, told Reuters.

Pakistan’s new government, which took charge in April, had been reluctant to remove the fuel price caps, fearing political consequences with elections expected within 16 months. “The removal of fuel subsidies will likely have political consequences in a period where ex-Prime Minister Imran Khan gave the government six days to announce a date for elections or face further protests,” Milo Gunasinghe at JPMorgan said in a note.

 

Obrigado pelo seu comentário. Seu comentário será publicado após ser revisado.
Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

 /  🏆 1. in BR

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Foreign outflow from bond market persisted in April, albeit milderPETALING JAYA: The Malaysian bond market registered a net outflow of foreign funds for a second successive month in April, with net outflow amounting ...
Fonte: theSundaily - 🏆 25. / 51 Consulte Mais informação »