Pakistan

Pakistan paid off $1 billion worth of Sukuk bonds

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Pakistan has paid off one billion dollars worth of Sukuk bonds.

According to Bloomberg, State Bank Spokesman Abid Qamar has said that the Sukuk Bonds were to be paid on December 5, and the payments have already been made three days earlier. The money was transferred to Citigroup, which will make payments to bondholders.

After this, the fears of bankruptcy of the country have been avoided. Concerns remain over Pakistan’s long-term payments, Bloomberg says. According to Bloomberg, the price of Pakistani Sukuk Bonds increased by sixteen percent to reach ninety-eight cents.

In October, the price of Pakistani bonds reached a low of eighty-three cents.

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