On Thursday, dollar bonds issued by Pakistan fell by more than two years, according to treadweep data, amid a wider wave of selling of emerging market debt instruments.
Dollar sovereign bonds issued by oil-producing Angola also declined. Pakistan suffers from high debt and limited access to foreign currency. The Pakistani rupee fell to record levels on Thursday.
This comes after a wave of selling of Gabon’s sovereign debt following a military coup that took place there, as well as declines in Nigeria’s bonds after news of the issuance of debt instruments worth three billion dollars.
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