SBP repays $1bn bond

Published
22

ISLAMABAD: Pakistan repaid a $1 billion international bond, the central bank spokesman said on Friday, amidst growing uncertainty about the country’s ability to meet external financing obligations.

The country’s economy has been beset by multiple crises, including the fallout of devastating floods that killed 1,700 people, low foreign exchange reserves and decades-high inflation.

“The payment (was) made to Citibank New York,” State Bank of Pakistan (SBP) spokesman Abid Qamar told Reuters in a message.

The notes climbed to 98.9 cents to the dollar on Friday, “marking a nearly 16-cent comeback from a record low of 83 cents in October”, Bloomberg reported, citing its indicative pricing data.

The bond repayment, which matures on Dec 5, totals $1.08bn, the central bank chief said last week.

During the week ended Nov 25, SBP reserves stood at $7,498.7 million. It has since received $500m from the Asian Infrastructure Investment Bank.

Published in Dawn, December 3rd, 2022

Opinion

Editorial

Cost of provinces
Updated 01 Nov, 2026

Cost of provinces

Political parties demanding new provinces must explain how they intend to pay for them and what improvements citizens can expect.
Exchange hack
01 Nov, 2026

Exchange hack

ON Thursday, the largest cryptocurrency heist in history saw some $6.3bn drained from exchange platform Binance’s...
Cyber safety
Updated 01 Nov, 2026

Cyber safety

The state of freedom of expression in Pakistan is already quite poor, so any further attempts to clamp down on free speech must be resisted.
China green channel
Updated 31 Oct, 2026

China green channel

The green channel is a useful step, given Pakistan identifies which agricultural products it can export, meets Chinese quality standards, and builds dependable supply chains.
Excessive punishment
Updated 31 Oct, 2026

Excessive punishment

It is unfortunate to see her and her husband punished so harshly for acts that seem downright frivolous compared to the violence actual terrorists routinely perpetrate.
Forced conversions
31 Oct, 2026

Forced conversions

THE institutional bias against minority females leaves them to either be directly victimised or to live in ...