Pakistan’s default risk spikes; CDS index spikes 4.2%
Pakistan’s risk of default, measured through the five-year currency default swap (CDS) index, spiked 4.2 percentage points to a new high at 64.2 per cent, suggesting that the country lacked resources to meet the growing import payments and foreign debt repayments on time. Pakistan is scheduled to repay $1 billion against a five-year ‘Sukuk ‘(Shariah-compliant…
Adil Aziz