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“Panda Bonds” in Chinese Currency - Pakistan
January 1 , 2019
2156 days
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- The Pakistan’s cabinet has approved the issuance of first-ever renminbi-denominated bonds (Panda Bonds) to raise loans from the China’s capital markets.
- With this, Pakistan has moved a step forward to give the Chinese currency a status at par with the US dollar.
- The bonds will help the government to diversify the investor base of capital market issuance and provide a source of raising Renminbi, the Chinese Currency.
- This is being done so that Pakistan can finance its yawning trade deficit with Beijing.
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