Pakistan plans to raise $1.5bn in Eurobonds, officials say

Pakistan plans to raise $1.5 billion through Eurobonds to bridge a balance of payments gap for the financial year beginning July 1, said sources. With the country's fiscal deficit likely to rise as high as 9.4% and a shortfall in revenues due to Covid-19 crisis, Pak desperately needs funds to stave off balance of payment pressure caused by dwindling foreign reserves and a current account deficit.

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