New York November 23 2022: Pakistan 5-year Credit Default Swap (CDS) decreased 5,224 basis points in a day to 7,164 basis points on Tuesday 22th November 2022 as finance minister assured payment of USD 1 billion for the international bond maturing on December 5th, 2022.
Pakistan Finance Minister Senator Muhammad Ishaq Dar Saturday ruled out any prospects of Pakistan being on verge of default over its international payments and reiterated that we are committed for making all our payments on time without any delay.
He strongly rejected the baseless and irresponsible statements and rumors about the country’s economy, saying that the government had arranged all international payments for the next one year.
The Finance Minister said that for the past few days, baseless and irresponsible rumors had been circulating about the country’s economy just for the political objectives.
When these rumors were spread through social media and various sources, it not only affected Pakistan’s economy and economic interests, but also impacted the affairs and transactions with their bilateral and multilateral partners, he opined.
The Finance Minister said that rumors were being spread that Pakistan would not be able to pay USD 1 billion sovereign bond (sukuk) in December. “This is baseless and contrary to facts, Pakistan has never defaulted on its international payments and will never come close to it,” he maintained.
