Tuesday, July 23, 2024

Pakistan to repay $1 Billion Bond on Dec 2: State Bank Governor

State Bank of Pakistan (SBP) Governor Jameel Ahmad Friday assured that country will repay a $1 billion international bond on December 2.

Ahmad said that the bond repayment, which matures on December 5, totals $1.08 billion.

“The repayment would be made on December 2, 2022, three days ahead of the maturity of the debt instrument on December 5, 2022,” Ahmad was quoted as saying.

Pakistan’s reserves have depleted to a critically low level of $7.83 billion in the week ended November 18, 2022, coming down from more than $20 billion in August 2021.

He was confident the reserve figure will be “much higher” by the end of the financial year in June 2023.

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