Deputy Chief Economist

Sharmila Whelan

Independent and original Asian investment research

Aletheia Capital

Aletheia Capital (HK) Ltd. (previously known as Asianomics) combines the extensive knowledge of its experienced team with technology and regulatory changes to disrupt Global Markets business in Asia. The firm is completely independent with no conflicts of interest either on Investment Banking advisory or Capital Markets execution.

Macroeconomics

Karachi Stock Exchange Kse100 Index (KSE100 INDEX)

<p><strong>The coronavirus pandemic is behind Pakistan and economic activity is gradually  normalising. The government has spent PKR1.2trn in emergency fiscal support while Pakistan’s international creditors have agreed to reschedule external debt service payments and extend additional financial assistance in the interim. Meanwhile the central bank has cut interest rates by 625bp since March. It is early days. Corporate profits remain under pressure and credit demand, particularly for investment loans, is weakening. Nonetheless Pakistan should recover sooner rather than later. </strong></p>

The coronavirus pandemic is behind Pakistan and economic activity is gradually  normalising. The government has spent PKR1.2trn in emergency fiscal support while Pakistan’s international creditors have agreed to reschedule external debt service payments and extend additional financial assistance in the interim. Meanwhile the central bank has cut interest rates by 625bp since March. It is early days. Corporate profits remain under pressure and credit demand, particularly for investment loans, is weakening. Nonetheless Pakistan should recover sooner rather than later. 

Pakistan Government International Bond (PKSTAN GOVT)

Pakistan: Covid-19 Response and Outcomes