Pakistan stocks, bonds rise as government seeks IMF bailout

Tough job: Imran, who came to power after July elections, is under pressure to generate external funding. — AFP

ISLAMABAD: Pakistan’s stocks and bonds rose and the rupee fell after the government said it would seek the nation’s 13th International Monetary Fund (IMF) bailout since the late 1980s in a bid to stabilise the economy and plug dwindling finances.

The South Asia nation’s key stock measure snapped six days of losses to advance as much as 3%, the most intraday in more than four months, before paring some gains, while its dollar-denominated bonds maturing in 2027 climbed the most since July 26.