Pakistan says debt profile more sustainable after $500 million Eurobond repayment

ISLAMABAD: Pakistan’s government said on Wednesday the country has developed a more sustainable debt profile and is now in a better position to borrow on competitive terms, after repaying a $500 million Eurobond issued a decade ago that matured on Sept. 30. The South Asian nation faced a prolonged economic crisis in recent years that pushed it to the verge of a sovereign debt default in mid-2023, when foreign exchange reserves fell to critically low levels. To stabilize its position, Islamabad secured financial assistance from friendly nations alongside the International Monetary Fund (IMF).

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