Pakistan Repays $1 Billion Euro Bond Amid Low Reserves, Seeks New IMF Loan

• Pakistan repaid $1 billion against euro bonds, creating goodwill for future bond issuances • Payment made to agent bank for distribution to bond holders
• Pakistan's USD-denominated bonds rallied 84% in 2024 • Payment caused further drop in SBP's reserves, now around $7 billion • Pakistan seeking another $6-8 billion IMF loan package, requiring difficult economic reforms