Balance of Payment loan : Credit Suisse for providing Pakistan with $225 million

Balance of Payment loan :  Credit Suisse for providing Pakistan with $225 million

ISLAMABAD: Credit Suisse is participating in a consortium for providing Balance of Payment loan of $225 million for Pakistan.
Finance Minister Ishaq Dar met a delegation of Bank Credit Suisse at his office here on Thursday.
While talking to the delegation the finance minister said that the government is now focusing its attention on building foreign exchange reserves. In this connection the government is working on various plans including floating of sovereign bonds, increasing remittances and disinvestment of public sector entities.
The minister thanked Credit Suisse for participating in a consortium for providing Balance of Payment loan of $225 million.
The minister said that macro-economic indicators have started showing improvement as a result of measures taken by the present government. This he said along with a conducive environment was reflected by a booming stock exchange and a positive outlook by Overseas International Chamber of Commerce, which presents investors a unique opportunity to invest in Pakistan.
The minister expressed the confidence that foreign exchange reserves position of the country would soon start improving.
The delegation apprised the finance minister of rising interest of international capital markets in Pakistan. There is a very strong appetite for holding Pakistan's securities as is reflected in continuously declining yields on Pakistan's existing bonds listed abroad. The investor is looking forward to the planned issue of Pakistan Euro -Bonds and the initiatives for accessing international markets, they said.
The meeting was attended by Arif Habib Securities Chairman Arif Habib, Managing Director Equities, Asia, Hong Kong Ali Naqvi, Managing Director Investment Banking, Singapore Rehan Anwar, Credit Suisse MD Abbas, and senior officials of the Ministry of Finance.

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