Finance Minister Of Pakistan -- One Of The World's Biggest Sovereign Debt Risks -- Resigns

Shaukat Tarin, now the former finance minister of Pakistan, has resigned. He’ll be working until February 28th and after that, Mr. Tarin will head over to Silkbank, of which he’s a major shareholder.

WSJ: Pakistan’s finance minister announced his resignation Tuesday, leaving a leadership vacuum in a country whose economy still depends to a great extent on overseas assistance.

Shaukat Tarin, who became finance minister in October 2008 when the economy of the strife-torn South Asian nation was on the brink of collapse, played a key role in sewing up aid from the International Monetary Fund that helped boost dwindling foreign-exchange reserves and avert a sovereign default.

Mr. Tarin claims he resigned to work on his business, which is perfectly reasonable.

Too bad Pakistan has one of the highest CDS spreads in the world at the moment, as showcased below.

5 year CDS feb18

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