Pakistan Seeks $1.4 Billion Boost from China Swap Line Amid Financial Push
In a bid to bolster its financial reserves, Pakistan has formally requested China to increase its existing swap line by 10 billion yuan, equivalent to $1.4 billion. According to Finance Minister Muhammad Aurangzeb, this strategic move is expected to strengthen the country's economic ties with China. Additionally, Aurangzeb expressed optimism about the launch of a Panda bond by the end of the year, further diversifying Pakistan's financing options. This development comes as Pakistan continues to navigate its economic challenges, seeking to leverage its relationships with key partners like China to stabilize its financial landscape and attract foreign investment, potentially through yuan-denominated bonds and other financial instruments like sovereign bonds and currency swaps.
