In the past 19 years, Pakistan has paid a good sized amount of $5.66 billion in hobby on international Euro and Sukuk bonds.
Additionally, the US Has repaid the principal sum of $7.50 billion at some point of this period. This records become found out all through a briefing through officials from the State Bank and the Ministry of Finance to the Senate Standing Committee on Economic Affairs.
As of now, Pakistan still owes $6.8 billion, which need to be settled by means of June 2024. The closing worldwide bond issued by means of Pakistan become in January 2022, following a $2.Five billion bond issuance in April 2021. The interest charges on these bonds had been appreciably high, ranging from 5.75% to 8.75%.
Officials cited that the US Federal Reserve may lessen interest charges quickly, with a comparable trend determined in European, British, and Canadian markets.
There is also capability for a discount in Pakistan’s policy price. However, the Ministry of Finance clarified that no new bonds may be issued until global interest quotes decline further.
