ISLAMABAD: Chinese lenders to the independent power producers (IPPs) have refused to accept the Term “Secured Overnight Financing Rate” (SOFR) but have agreed on transitioning from the London Inter-bank Offered Rate (Libor) to daily SOFR. The issue was taken up during suo motu proceedings on Thursday on the subject of shifting from Libor to SOFR […]
Pakistan has secured debt rollover commitments from China, Saudi Arabia and the United Arab Emirates (UAE) for a year, ARY News reported on Wednesday quoting a Bloomberg report. Pakistan last month reached a staff-level agreement with the IMF for a new $7 billion loan program. But the South Asian nation reportedly needed financing commitments from […]
KARACHI: Pakistan has secured commitments from China, Saudi Arabia and the United Arab Emirates to rollover debt for a year, a boost for Islamabad as it awaits final approval of a new $7 billion loan programme with the IMF, Bloomberg reported on Tuesday. Bloomberg said Pakistan’s Finance Minister Muhammad Aurangzeb told reporters in Islamabad after […]