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Pakistan’s Raza to raise funds overseas amid political turmoil

Posted on 17 March 2009

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

 
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