ISLAMABAD: Pakistan Plans to Issue $300 Million Panda Bonds in Chinese Market, Confirms Finance Minister Muhammad Aurangzeb in an interview with Bloomberg.
Aurangzeb highlighted the significance of tapping into China’s bond market, the second-largest globally, given Pakistan’s previous successful bond sales in dollars and euros.
The initial Panda bond sale is expected to range between $250 million to $300 million, with further issuances to follow.
Appointed by Prime Minister Shehbaz Sharif in March, Aurangzeb faces the challenge of managing the country’s economic woes, including high inflation and significant external debt payments.
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However, he reassured that Pakistan’s strong cash balances would allow it to meet debt obligations on time without putting pressure on the currency, expressing confidence in the stability of the Pakistani rupee.