In order to strengthen its relations with China, Pakistan is keen to access the yuan bond market, according to Finance Minister Muhammad Aurangzeb.
He stated in an interview with Nikkei Asia that the initial Panda bond issuance before the end of this year is anticipated to have a value of between $200 million and $250 million.
Muhammad Aurangzeb stated the hope that by implementing reforms in line with the IMF’s guidelines, the rating will eventually fall to the “B” category.
The China-Pakistan Economic Corridor, he underlined, is a flagship project of the Belt and Road endeavor, a central economic and geopolitical endeavor led by Chinese President Xi Jinping.
The Minister stated that the government gives the safety issue, which affects not only Chinese but all foreigners in the nation, “focused attention at the highest level.”
We are currently in the 25th IMF program, and we want to make sure that this is the final one, he stated.
“The nation must firmly establish an export-led growth model, attract more foreign direct investment, and return to the international capital market,” the minister stated.
