Govt plans to issue global bonds of up to $1b
Though a section of economists have opposed the new IMF loan in a bid to avoid increase in inflation and poverty, and demanded a homegrown economic roadmap, any delay in securing the loan will increase the risk of default. photo: REUTERS
The federal government has decided to approach the international market to issue bonds valued between $500 million and $1 billion.
Sources in the finance ministry said the government would first launch panda bonds worth $300 million in the Chinese market.
The bonds will be issued after the approval of the International Monetary Fund’s (IMF) bailout programme.
Pakistan expects an Extended Fund Facility from the Washington-based lender. It has met nearly all its demands in the federal budget proposed for the next fiscal year.