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Pakistan to repay $1bn bond early: SBP governor Jameel Ahmad

  • There has been growing uncertainty about the ability of Pakistan to meet external financing obligations with the country in the midst of an economic crisis and recovering from devastating floods
Published November 25, 2022
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ISLAMABAD: Pakistan will repay a $1 billion international bond on December 2, three days before its due date, the governor of Pakistan central bank told a briefing on Friday.

There has been growing uncertainty about the ability of Pakistan to meet external financing obligations with the country in the midst of an economic crisis and recovering from devastating floods that killed over 1,700 people.

Pakistan ‘treading path’ to launching its own digital currency: SBP

The bond repayment, which matures on December 5, totals $1.08 billion, State Bank of Pakistan (SBP) Governor Jameel Ahmad told a briefing, according to two analysts who were present.

Ahmad's remarks come as foreign exchange reserves held by the central bank declined to $7.83 billion as of November 18, 2022, according to latest data.


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Comments

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Pakistani1 Nov 25, 2022 10:22pm
There is no logic or benefit of paying a loan early unless there is a rebate. Focus should be to pay on time, zero delay, and manage cashflow properly.
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