LONDON: Pakistan sovereign bonds dropped as much as 2 cents on the dollar on Wednesday, with shorter-dated maturities falling the most after the government said the country will open criminal proceedings against former prime minister Imran Khan.
The 2025 fell just over two cents at 1127 GMT, according to Tradeweb data, still trading over 60 cents on the dollar after a rally that kicked off earlier this month amid a $3 billion bailout from the International Monetary Fund.
Pakistan dollar bonds rally after IMF clears $3bn bailout
The bonds maturing April 2024 fell 1.7 cents on the dollar.
Interior Minister Rana Sanaullah said Pakistan will open criminal proceedings against the Pakistan Tehreek-e-Insaf (PTI) chief on charges of exposing official secrets related to diplomatic correspondence.
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