Pakistan has successfully re-entered the international capital markets with the issuance of its first Eurobond in four years, reflecting renewed investor confidence, according to an official statement issued today. The positive signal came after Federal Minister for Finance and Revenue,
Senator Muhammad Aurangzeb, informed Citibank officials that Pakistan has also recently signed a staff-level agreement with the International Monetary Fund (IMF) for critical reviews, the approval of which is expected soon by the Executive Board.
The Finance Minister further highlighted Pakistan’s timely fulfilment of its external obligations, including the repayment of USD 1.4 billion on its Eurobond in the current month. He also acknowledged the continued and firm financial backing provided by the Kingdom of Saudi Arabia.
Discussing broader capital market developments, Senator Aurangzeb updated the Citi team on progress concerning Pakistan’s inaugural Panda bond issuance. Regulatory submissions for this issuance have been finalised, and approval is actively being sought with the aim of completing the bond sale in May.
The Minister then outlined Pakistan’s comprehensive Global Medium Term Note (GMTN) strategy. This approach anticipates diversified issuances across multiple financial instruments, including additional Eurobonds, Sukuk, and rupee-linked, dollar-settled bonds.
Senator Aurangzeb commended Citibank’s detailed capital markets strategy and recommended that the team maintain close liaison with Pakistan’s Debt Management Office (DMO) to support ongoing and future market engagements. He concluded the discussion by expressing appreciation for Citibank’s enduring presence in Pakistan and conveyed a strong desire to invigorate and deepen their collaborative relationship.