{"id":79868,"date":"2024-04-13T16:46:22","date_gmt":"2024-04-13T16:46:22","guid":{"rendered":"https:\/\/nationaltimes.pk\/eng\/?p=79868"},"modified":"2024-04-13T16:46:22","modified_gmt":"2024-04-13T16:46:22","slug":"pakistan-repays-1bn-in-eurobonds-as-aurangzeb-heads-to-us-for-imf-deal","status":"publish","type":"post","link":"https:\/\/nationaltimes.pk\/eng\/2024\/79868\/","title":{"rendered":"Pakistan repays $1bn in Eurobonds, as Aurangzeb heads to US for IMF deal"},"content":{"rendered":"\n<p>ISLAMABAD (National Times) Pakistan&#8217;s central bank has repaid $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 (IMF).<\/p>\n\n\n\n<p>The bond, launched in 2014 and repaid on Friday, was maturing this month.<\/p>\n\n\n\n<p>&#8220;The payment was made to the agent bank for onward distribution to the bond holders,&#8221; the central bank said in a statement.<br>Islamabad has been struggling with a balance of payments crisis, record inflation and steep currency devaluation since an IMF standby arrangement averted a sovereign default.<\/p>\n\n\n\n<p>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&#8217;s 24th long-term IMF bailout.<\/p>\n\n\n\n<p>Aurangzeb briefed Prime Minister Shehbaz Sharif about the new IMF programme on Friday, the government said in a statement.<\/p>\n\n\n\n<p>The IMF stand-by arrangement of $3 billion Islamabad secured last summer expired on Thursday. Its final tranche of $1.1 billion is expected to be released after the multilateral lender&#8217;s board meets later this month.<\/p>\n\n\n\n<p>The two sides have spoken in recent weeks about negotiating the longer-term bailout to continue with necessary policy reforms to rein in deficits, build up reserves and manage soaring debt servicing.<\/p>\n\n\n\n<p>Pakistan is in discussions with the IMF for a potential follow-up programme, the IMF chief Kristalina Georgieva said on Thursday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD (National Times) Pakistan&#8217;s central bank has repaid $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 (IMF). The bond, launched in 2014 and repaid on Friday, was maturing this month. &#8220;The payment was made to the agent [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":79869,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-79868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pakistan repays $1bn in Eurobonds, as Aurangzeb heads to US for IMF deal - Nation<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationaltimes.pk\/eng\/2024\/79868\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pakistan repays $1bn in Eurobonds, as Aurangzeb heads to US for IMF deal - Nation\" \/>\n<meta property=\"og:description\" content=\"ISLAMABAD (National Times) Pakistan&#8217;s central bank has repaid $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 (IMF). 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