Pakistan raises $2.5 bln from sale of three U.S. dollar bonds
Published 31 Mar,2021 via Dawn ISLAMABAD - A day after ouster of Finance Minister Dr Abdul Hafeez Shaikh, the government raised $2.5 billion in three dollar bonds of five, 10 and 30 years from the international capital market on Tuesday.
Receiving over 50 per cent oversubscription to $5.3bn, this was the first international capital market transaction since the Pakistan Tehreek-i-Insaf came to power in August 2018. Last week’s revival of the $6bn IMF programme after a year of virtual suspension followed by $1.3bn commitment from the World Bank have improved investor confidence.
Meanwhile, the State Bank of Pakistan (SBP) on Tuesday received $498.7 million (equivalent to SDR 350) tranche from the International Monetary Fund.
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