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
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.
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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.
