Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a meeting with representatives of JP Morgan Chase on the sidelines of the World Bank–IMF Spring Meetings in Washington, D.C.
The Finance Minister signaled that Pakistan is preparing to re-enter international capital markets after an absence of approximately four years. He apprised the JP Morgan team on Pakistan’s Global Medium-Term Note (GMTN) programme, under which rupee-linked, dollar-denominated instruments are expected to be issued in the near term.
He further briefed the team on the counter-indemnity agreements signed with the Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB) in support of Pakistan’s inaugural Panda Bond issuance.
The Finance Minister expressed appreciation for the financial support extended by the Kingdom of Saudi Arabia.
He assured the JP Morgan team that the various financing proposals and market options presented during the discussion would be carefully reviewed.
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