Cash-Strapped Pakistan To Repay $1 Billion Next Week, 3 Days Before Deadline
NDTV
The bond repayment of USD 1.08 billion is maturing on December 5 and there is fear due to the prevailing economic difficulties that Pakistan may default on the external liabilities.
Pakistan's central bank chief said on Friday that the cash-strapped country would repay a USD 1 billion international bond on December 2, three days before its due date.
Jameel Ahmad, Governor of the State Bank of Pakistan (SBP), said this at a briefing, according to sources privy to the development.
The bond repayment of USD 1.08 billion is maturing on December 5 and there is fear due to the prevailing economic difficulties that Pakistan may default on the external liabilities.
Giving details of the payment, Ahmad said that the funding had been arranged through multilateral and bilateral sources including an immediate inflow of USD 500 million next week on Tuesday from the Asian Infrastructure Investment Bank.
