Tuesday, May 28, 2024

Pakistan to Issue Panda Bonds Worth $300 Million: Finance Minister

Finance Minister Muhammad Aurangzeb announced that Pakistan plans to issue Panda Bonds worth $300 million this year to tap into the Chinese market.

In an interview with Bloomberg, he highlighted China's status as the second-largest bond market globally and emphasized the benefits for Chinese investors in accessing Panda bonds.

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Initially, bonds worth $250 million to $300 million will be issued, with plans to enhance the volume of Panda bonds at a later stage. Minister Aurangzeb underscored the strength of Pakistan's cash balances, enabling timely debt payments and steering the country towards economic stability.

Read also: IMF Reaches Staff-Level Agreement with Pakistan for $1.1 Billion

He expressed confidence that the debt payments would not exert pressure on the currency and voiced optimism about the stability of the Pakistani rupee. Aurangzeb also revealed Pakistan's intention to pursue an IMF program lasting at least three years, expressing confidence in a better growth rate in the upcoming financial year.

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Zubair Yaqoob
Zubair Yaqoob
Zubair Yaqoob is a senior anchor, and an investigative journalist with an impressive 37 years of experience. Zubair's journalistic journey has been marked by a relentless pursuit of truth and a commitment to delivering impactful stories.Zubair's expertise extends beyond borders, reaching as far as Malaysia, where he has left an indelible mark on the international journalism landscape. His global perspective and keen analytical skills have allowed him to navigate diverse cultural landscapes, bringing a unique and enriching perspective to his reporting.Whether he's in the studio or on the field, Zubair continues to be a driving force in the world of journalism, bridging gaps, fostering understanding, and unraveling the stories that matter most. As the Headline PK Author, Zubair remains at the forefront of news, guiding audiences through the complexities of our ever-evolving world.

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