"It looks like inflation is getting out of control and the government there is depleting their foreign reserves at an alarmingly fast rate, and their currency has also weakened considerably."
It's all linked together, inflation, weakening currency, depleting foreign reserves... things are not looking great for Pakistan.
The bottom line is, I don't think management are doing anything wrong in terms of trying to grow their businesses as best they can, the issue is a broader macro problem which we should all be aware of given the name of the company clearly tells us it's operating in frontier markets which have high exposure to these risks.
FDV Price at posting:
88.5¢ Sentiment: Buy Disclosure: Held
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