- Pakistan’s cabinet led by Prime Minister Imran Khan, has approved the issuance of first-ever renminbi-denominated ‘Panda Bonds’ to raise loans from China’s capital markets.
- The move is aimed at strengthening foreign exchange reserves and stabilising balance of payment position of Pakistan.
- Though, the size of the bond is not yet defined, the country expects to raise $500 million to $1 billion in different tranches with at least one tranche expected during the current fiscal year.
