Pakistan looks to reinvigorate Citibank partnership
MG News | April 18, 2026 at 07:44 PM GMT+05:00
April 18, 2026 (MLN): Pakistan has updated Citibank
on key economic milestones including the successful conclusion of a Staff-Level
Agreement with the IMF, timely repayment of $1.4 billion on its Eurobond,
re-entry into international capital markets after four years, and progress on
the inaugural Panda Bond issuance targeted for completion in May.
Federal Minister for Finance and Revenue, Senator Muhammad
Aurangzeb, held a meeting with representatives of Citibank on the sidelines of
the World Bank–IMF Spring Meetings 2026 in Washington, D.C, according to a
press relase issued.
The Finance Minister confirmed that the IMF Staff-Level
Agreement covers the third review under the Extended Fund Facility and the
second review under the Resilience and Sustainability Facility, with approval
by the IMF Executive Board expected imminently.
He also acknowledged the continued and steadfast financial
support extended by the Kingdom of Saudi Arabia.
On capital markets, Senator Aurangzeb outlined Pakistan's
broader Global Medium Term Note strategy, envisaging diversified issuances
across Eurobonds, Sukuk, and rupee-linked dollar-settled bonds, aimed at
broadening the investor base and diversifying financing sources.
The Finance Minister appreciated the detailed and structured
capital markets strategy presented by Citibank and advised the team to maintain
close coordination with Pakistan's Debt Management Office to support ongoing
and future market engagements.
Concluding the meeting, Senator Aurangzeb appreciated
Citibank's longstanding presence in Pakistan and expressed a strong desire to
further reinvigorate and deepen the partnership.
Copyright Mettis
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