In an effort to further link its capital markets with China’s, Pakistan will issue Chinese Panda bonds as early as June, according to Finance Minister Muhammad Aurangzeb.
The Finance Minister claimed in an exclusive interview with the South China Morning Post that Pakistan has issued yuan bonds in accordance with Egypt’s example, thanks to credit improvement from the Beijing-Led Asian Infrastructure Investment Bank.
While in Hong Kong for the Asian Financial Forum, Muhammad Aurangzeb promised Beijing more collaboration on the next stage of the China-Pakistan Economic Corridor program.
He also urged China’s export-led industries and private sector to get more involved in transforming Pakistan’s debt-ridden economy.
Pakistan wants to raise between $200 million and $250 million from Chinese investors, according to the finance minister.
