LONDON: Pakistan’s government bonds slumped on Friday after the country’s bailout talks with the International Monetary Fund ended without an agreement.

IMF stresses on ‘timely, decisive’ implementation of policies as virtual discussions to continue

The country’s bond due for repayment the soonest, in April 2024, tumbled 4.6 cents on the dollar or roughly 9%. Other bonds with longer repayment dates fell between 2 and 3 cents to leave them at less than half their face value.

An IMF staff mission visited Islamabad from January 31 until February 9 to discuss the ninth review of a $7 billion loan programme.

Govt to impose Rs170bn in additional taxes, MEFP shared with Pakistan: Dar

The Washington-based lender has asked for more time for negotiations with Pakistan over a deal that would unlock $1.1 billion in much-needed funds for the country, Secretary of Finance Hamed Sheikh said Thursday.