Aurangzeb says Pakistan will not rush global borrowing
In Bangkok, Finance Minister Muhammad Aurangzeb said Islamabad will stretch some short-term foreign loans over two to three years and keep reserves near $21.4 billion.
Aurangzeb said in Bangkok that Islamabad will not hurry into new overseas borrowing in the fiscal year under way.
A $3 billion Eurobond sale roughly three weeks before the interview drew orders double the amount sold; a private bond placement in April raised $750 million.
Within two or three years, some near-term foreign debt is to be moved onto later repayment dates without lifting the overall stock.
Reserves hit a record $21.4 billion several weeks earlier, near a quarter-year of imports, against about fourteen days of cover three years before.
The sovereign rating sits in the B band after three upgrades from April of the previous year, while November fuel buying is still being planned.