Bloomberg dismisses Pakistan's default fears, warns of economic hardship.
ISLAMABAD -- US-based financial news service, Bloomberg has dismissed reports speculating that Pakistan was heading towards default, warning of economic hardship in near future, media reported on Monday.
In a report issued by Bloomberg Economics, Ankur Shukla - who covers South Asia - said that Pakistan is likely to dodge default in the next six months, but its troubles are not over.
'The prevailing economic conditions will require assistance from International Monetary Fund (IMF),' the report stated, adding that the assistance from the Monetary Fund will help the country through the end of June.
According to the report, the investors are now worried about a big dollar debt repayment in April 2024, and are pricing those bonds at a distressed level. 'In this regard, Pakistan needs more external aid,' it maintained.
The report further stated that the country, which suffered over $33 billion in losses consequent...
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