Govt, Citibank explore sovereign financing cooperation

February 03, 2026 (MLN): Government of Pakistan and Citibank are exploring potential collaboration on sovereign financing solutions and strategies to attract active investor participation, focusing on sustainable debt management and external financing opportunities.

The discussions took place in a high-level meeting led by Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb, along with his Finance Division team overseeing debt management, capital markets, and related policy areas.

Citibank’s delegation included Mr. Habib Yousuf, Citi Country Officer; Mr. Ali Sana Rizvi, Corporate Banking Head; and Mr. Usama Paracha, Vice President of Corporate Banking, according to a press release issued.

During the meeting, the Finance Ministry shared a high-level assessment of prevailing market conditions and recent developments in Pakistan’s international bond performance.

Emphasis was placed on pricing considerations, market timing, and ensuring that any future external borrowing aligns with Pakistan’s broader debt sustainability and cost objectives.

The Ministry also briefed the delegation on ongoing sovereign funding programs, including preparatory work on medium-term note structures, while stressing that immediate focus remains on concluding priority transactions currently under process.

Investor engagement was highlighted as a key priority, with the Ministry emphasizing active participation by institutional investors rather than passive flows. Citibank’s global capabilities were discussed as potential support in structured programs, documentation frameworks, and market infrastructure.

Trade-related and hedging structures were also noted as future considerations once foundational frameworks are in place.

Senator Aurangzeb stressed the importance of sustained senior-level engagement by international financial institutions to develop a deeper understanding of Pakistan’s evolving economic landscape.

Both sides agreed to continue dialogue and explore closer cooperation, with Citibank reaffirming its interest in supporting Pakistan’s financing strategy and broader economic objectives.

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