Pakistan's central bank has repaid $1 billion in Eurobonds as a scheduled payment before seeking a long-term bailout from the International Monetary Fund (IMF). The payment was made to the agent bank for distribution to the bond holders. Finance Minister Muhammad Aurangzeb is set to attend the IMF-World Bank spring meeting in Washington to start negotiations for Pakistan's 24th long-term IMF bailout.
A logo of the State Bank of Pakistan is pictured on a reception desk at the head office in Karachi, Pakistan , on Jul 16, 2019. ISLAMABAD: Pakistan 's central bank has repaid US$1 billion in Eurobonds , it said on Saturday, a scheduled payment ahead of the South Asian nation seeking a long-term bailout from the International Monetary Fund."The payment was made to the agent bank for onward distribution to the bond holders," the central bank said in a statement.
Finance Minister Muhammad Aurangzeb is due to leave on Sunday for Washington to attend the IMF-World Bank spring meeting, where he will start negotiations for Pakistan's 24th long-term IMF bailout. The IMF standby arrangement of US$3 billion Islamabad secured last summer expired on Thursday. Its final tranche of US$1.1 billion is expected to be released after the multilateral lender's board meets later this month.
Pakistan Central Bank Repayment Eurobonds IMF Bailout Finance Minister Negotiations
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