Buying Pakistan at a Five-Year Low
Now is a strategic time to consider investing in Pakistan's stock market, given that valuation has currently fallen to a historic low. The Global X MSCI Pakistan ETF (PAK) trades at a forward P/E of 5.29, PBR of 0.98, and it also offers a 7.5% dividend. MSCI Pakistan trades at a 43% PER discount to MSCI frontier markets. Macroeconomic and political prospects are poised to see a minor improvement in the 2020s, and the country has already endured extreme shocks, including depletion of foreign exchange reserves, poor currency