Finance Minister Mohamed Uranzib said, adding that the country will launch the bond bond before the end of the year, that Pakistan has submitted a request to China to increase the current swap line by 10 billion yuan ($ 1.4 billion).
Uranzip told Reuters in an interview on the sidelines of the International Monetary Fund in Washington.
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“From our point of view, reaching 40 billion Renminbei will be a good place to move towards … We have made this request,” said Uranzib.
The Chinese Central Bank promotes currency exchange lines with a group of emerging economies, including the likes of Argentina and Sri Lanka.
Pakistan has also made progress in issuing the first Banda -debt bond released in the local bond market in China, which is denominated in Yuan. He said that the talks with the heads of the Asian Investment Bank (AIIB) and the Asian Development Bank (ADB) – the two lenders that are in line with providing credit improvements to the case – was constructive.
He said: “We want to diversify our lending base and we have made some good progress on that – we hope that during this evaluation year, we can do a preliminary edition.”
Meanwhile, Uranzib expected that the Board of Directors of the International Monetary Fund will sign in the month of May early on the employee level agreement on its new ranking of $ 1.3 billion under the climate flexibility loan program in addition to the first review of the 7 billion dollar rescue program.
Getting green light from the International Monetary Fund palette will pay compensation of one billion dollars under the program, which the country obtained in 2024 and played a major role in installing the Pakistani economy.
When asked about the economic repercussions of tensions with India after 26 men were killed in a tourist site earlier this month, Uranzib said he would not be useful. “
The attack sparked anger and sadness in India, as well as calls for action against the neighbor Pakistan, which New Delhi accuses of financing and encouraging terrorism in Kashmir, a region claiming the two countries and fought two wars.
After the attack, India and Pakistan launched a set of measures against each other, as Pakistan closed the airspace on Indian Airlines and the suspension of trade relations, and India has suspended the 1960 Water Treaty that regulates water sharing from the Sindh River and its throat.
Commercial flows between the two countries have already decreased sharply after the previous frictions, totaling only $ 1.2 billion last year.
Aurangzeb estimated about 3 % growth in the current fiscal year that ends in June 2025, in a range of 4-5 % next year, with the aim of reaching 6 % after that.
($ 1 = 7.2864 Chinese Yuan Renminbe)
