Pakistan repays $1bn international bond

MG News | April 13, 2024 at 02:03 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

April 13, 2024 (MLN): Pakistan has successfully executed the repayment of $1 billion Pakistan’s International Bond on April 12, 2024, the State Bank of Pakistan (SBP) said on Saturday.

The payment, which included principal plus interest, was made to the agent bank for onward distribution to the bond holders, the central bank added.

Accordingly, the SBP-held reserves will fall to around $7bn, which currently stands at $8.04bn.

However, last month, the International Monetary Fund (IMF) staff and the Pakistani authorities reached a staff-level agreement on the final review under Pakistan’s Stand-By Arrangement, subject to the approval of the IMF’s Executive Board.

Upon approval, Pakistan will have access to SDR 828 million which is around $1.1bn.

Furthermore, the country is in discussions with the IMF on a potential follow-up program to its current stand-by arrangement, IMF chief Kristalina Georgieva said this week.

With the repayment of 2024 bond today, the next major maturity amounting to around $500m is in September 2025.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	175,328.82 259.37M	0.23% 399.13
ALLSHR	106,442.83 871.95M	0.22% 236.26
KSE30	52,294.83 70.59M	0.21% 109.76
KMI30	250,239.14 117.86M	0.27% 676.97
KMIALLSHR	68,844.23 590.83M	0.27% 185.40
BKTi	49,072.93 17.11M	0.20% 97.65
OGTi	35,769.80 17.60M	0.71% 253.52

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	79,955.00	80,070.00 79,860.00	-100.00 -0.12%
BRENT CRUDE	95.85	96.57 93.15	0.33 0.35%
RICHARDS BAY COAL MONTHLY	126.75	0.00 0.00	1.10 0.88%
ROTTERDAM COAL MONTHLY	138.45	138.45 136.80	2.75 2.03%
USD RBD PALM OLEIN	1,228.00	1,228.00 1,228.00	0.00 0.00%
CRUDE OIL - WTI	91.22	92.17 88.72	-0.08 -0.09%
SUGAR #11 WORLD	18.02	18.48 17.92	-0.05 -0.28%