From Bloomberg: Pakistan plans to raise $500 million in the next 12 months through bonds aimed at Middle East investors as a debt sale in other overseas markets would be too expensive, central bank Governor Syed Salim Raza said.

“The credit-default swap rate for Pakistan is still high so to go to cold-nosed commercial markets wouldn’t suit us,” Raza, 63, who worked for Citigroup Inc. for 36 years in the Middle East, Africa and Europe, said in an interview. “But there are a number of countries in the region who understand Pakistan’s politics very well.” …. Full Article: Source