Summary "Pakistan's proven market access is credit positive", an analyst said.
(Dunya News) - The International credit rating agency Moody’s has termed Pakistan financial market one of the best and assured good returns for the investors especially while investing in fixed income securities.
Speaking to Dunya News two days after Pakistan issued Sukuk bonds which raised $1 billion at 5.50 percent lowest in the country’s interest, an analyst of Moody’s Investors service said that ample global liquidity and historically low international yields make Pakistan a potentially attractive investment destination for fixed income investors.
"Pakistan’s proven market access is credit positive", he said.
Moving forward, implementation of sound economic policies and advancement of structural reforms would help reinforce investor interest in Pakistan.
Before the issuance of $1 billion sukkuk bonds for which investors placed bids worth $2.4 billion, five times higher than the government’s target of $500 million, Pakistani government has outstanding Euro and Sukuk bonds amounting to $4.5 billion.
The amount of $1 billion of Sukkuk bonds to arrive next week which would help boost the already high level of foreign exchange reserves amounting to $23.6 billion.
Pakistan has been fortunate that Asian Development Bank (ADB), International Monetary Fund (IMF), World Bank (WB) and even Harvard University recently said that the country’s economy would grow by over 5 percent per annum.
