Sign in Subscribe
  • E-Papers
    • Profit Magazine
    • Pakistan Today
  • Headlines
  • Featured
  • Opinion
    • Comment
    • Editorial
  • Tech
    • Artificial Intelligence
  • World
  • Satire
Sign in
Welcome!Log into your account
Forgot your password?
Create an account
Sign up
Welcome!Register for an account
A password will be e-mailed to you.
Password recovery
Recover your password
Search
Sign inSubscribe
Profit Profit by Pakistan Today
Profit Profit
  • E-Papers
    • Profit Magazine
    • Pakistan Today
  • Headlines
    • Headlines

      Govt moves closer to selling First Women Bank shares to UAE

      Headlines

      Sindh to launch traders’ web portal for extortion complaints; FIRs to…

      Headlines

      Aurangzeb highlights Saudi partnership, IMF talks and reform agenda

      Headlines

      PIA, FWBL and HBFC near privatization milestone, says government

      Headlines

      China expands rare earth export controls after Pakistan–US mineral pact; Trump…

  • Featured
    • Featured

      Can fro-yo make a comeback?

      Cover story

      Why P&G is leaving Pakistan

      Consumer Goods

      Tepid growth for Colgate Palmolive Pakistan

      Editor’s picks

      Trump tariffs expected to boost PEL’s exports to the US

      News Analysis (Premium Content)

      Can Pakistan manage pension reforms with discipline rather than delay?

  • Opinion
    • AllCommentEditorial
      Comment

      Pakistan’s high-stakes crypto experiment

      Comment

      Do Pakistani businesses know how to diversify their business portfolios?

      Comment

      Pakistan’s tax myth: It isn’t the people, its the government

      Comment

      Market maker or market wrecker?

  • Tech
    • AllArtificial Intelligence
      Headlines

      NADRA expands digital Identity Services with Pak ID App and new…

      Artificial Intelligence

      Experts project 7–12% GDP growth, 1 million jobs from Pakistan’s new…

      Headlines

      Air Link announces expansion plans with new production facility at Sundar…

      Tech

      OpenAI partners with Etsy, Shopify on ChatGPT payment checkout

  • World
  • Satire

Govt contemplating issuance of Renminbi bonds

By
Monitoring Desk
-
12/03/2018
0
307
Facebook
Twitter
Linkedin
WhatsApp
Email

    ISLAMABAD: The government is seriously considering issuance of Renminbi (RMB) bonds for settling its immense payment obligations with China without pressurizing the foreign exchange reserves.

    A meeting conducted in relation to the country’s economy last week saw certain participants sharing present remittances and trade data to understate the economic weaknesses, reported Dawn.

    The meeting however did discuss the upcoming general elections and caretaker setups and consider potential intercession to stabilize the economy over the next six months.

    Various sources in the government and banking fraternity said going back to the IMF wasn’t considered a possibility in immediate future. The reason attributed for this were the donor’s stabilization requirements could damage the present growth cycle.

    The meeting favoured the issuance of an RMB bond. However, Chief Economist Planning Commission, Dr Nadeem Javed said current economic growth rate wasn’t an illusion and believed current growth was engineered by several original drivers.

    He added there were various options available to deal with issues on external front.

    He shared his views regarding current account and trade deficits over the phone with Dawn. He said there were implicit arrangements with various friendly nations which could be utilized to avoid a balance of payment crisis.

    Mr. Javed said the government go for issuance of an RMB bond and import bill settlement could be conducted via currency swap arrangement with China.

    And other alternatives available included raising finances from the international bond market, enabling currency swap arrangements with trade partners to avert a fall in forex reserves and a return to the IMF was last on the list, he said.

    Chief Economist of the Planning Commission expressed optimism conditions wouldn’t reach a crisis stage as steps taken to rein in imports and improve exports were bearing results.

    He shared imports growth was being reined by levying of regulatory duties and exchange rate, and exports increased 11.8 percent against same period last year (SPLY).

     

     

     

    • TAGS
    • Currency Swap
    • current account deficit
    • Renminbi Bonds
    • trade
    • Trade deficit
    Facebook
    Twitter
    Linkedin
    WhatsApp
    Email
      Monitoring Desk
      Our monitoring team diligently searches the vast expanse of the web to carefully handpick and distill top-tier business and economic news stories and articles, presenting them to you in a concise and informative manner.

      RELATED ARTICLESMORE FROM AUTHOR

      Headlines

      Services sector’s trade deficit declines 52% MoM in February

      Headlines

      Pakistan’s services exports decline for third consecutive month

      Headlines

      Pakistan’s trade deficit shrinks by over 30% in July-Feb

      Whatsapp Newsletter
      Email Newsletter News Tips
      Profit by Pakistan Today
      Publishing Editor: Babar Nizami -- Editor Multimedia: Umar Aziz Khan -- Senior Editor: Abdullah Niazi -- Editorial Consultant: Ahtasam Ahmad -- Business Reporters: Taimoor Hassan | Shahab Omer l Zain Naeem | Shahnawaz Ali | Ghulam Abbass | Ahmad Ahmadani | Aziz Buneri -- Sub-Editor: Saddam Hussain -- Video Producer: Talha Farooqi -- Director Marketing : Mudassir Alam | Regional Heads of Marketing: Agha Anwer (Khi) | Kamal Rizvi (Lhe) | Malik Israr (Isb ) -- Manager Subscriptions: Irfan Farooq -- Pakistan’s #1 business magazine - your go-to source for business, economic and financial news.
      Contact us: [email protected]
      • Privacy policy
      Copyright © 2025. Pakistan Today. All Rights Reserved.