Govt appoints international bank consortiums for future sovereign debt issuances - The Express Tribune
Govt appoints international bank consortiums for future sovereign debt issuances - The Express Tribune
Source: The Express Tribune
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DW NOTE
Pakistan has hired foreign banks to arrange future debt sales. The country's external debt service cost $19.3 billion last year — 37% of government revenue went to interest payments before a single road was paved or hospital staffed. When you need a consortium to find buyers for your bonds, you're not borrowing at market rates, you're negotiating a bailout in formal dress.