Pak bonds slump as UNDP set to recommend debt restructuring

LONDON, Sept 24 (Reuters): Pakistan's bonds slumped on Friday, leaving many at half of their face value after a Financial Times report that the United Nations Develo-pment Programme was set to publish a memo urging the country to restructure its debt.

Long-term worries about Pakistan's finances have been compounded over the last month by devastating Monsoon floods that claimed nearly 1500 lives.

Friday's moves saw one of its main bonds due for repayment in 2024 slump over 9 cents to around 50 cents on the dollar.

Another due in 2027 fell to around 45 cents.