Sovereign dollar bonds issued by Egypt and Pakistan fell by more than 2 cents on Thursday, Tradeweb data showed, amid a broader selloff in emerging-market debt.
Sovereign dollar bonds issued by oil producer Angola were also sliding. Egypt and Pakistan are grappling with high debt and limited access to foreign exchange, and Pakistan’s rupee currency also hit record lows on Thursday.
The moves followed a selloff in Gabon’s sovereign debt after a military coup, and drops in Nigeria’s bonds following reports of an issue with a $3-billion loan.
Source: Zawya
