ISLAMABAD -- Pakistan's first international bond in a year is likely to be well received by investors, despite deepening concerns about the country's macroeconomic stability and deteriorating political risk profile, fund managers and economists said.
The finance ministry plans to raise up to $1 billion by issuing a five-year sukuk, or Islamic bond, in November to help plug a sharply widening current account deficit and shore up falling foreign exchange reserves. Sukuk refers to sharia-compliant securities structured so that buyers receive returns from assets or transactions rather than interest.
