KARACHI: The central bank has lauded the government for issuing of 10-year $500 million Eurobond in the world market and termed it a rational step.
The State Bank of Pakistan (SBP), in a statement, said that despite the difficulties of timing, the issuance of the Eurobond was important for many reasons. While it may be considered as relatively expensive comparing it with the past issues, it has many associated benefits. Foremost, it is helpful to maintain the current year’s budgeted cash flows and meeting many of the performance criteria set under the IMF program. The country is benefitting from a smooth sailing of the program as many of the other bilateral and multilateral flows are contingent upon the success of the program as well.
