Pakistan has stepped up efforts to re-enter international financial markets, as Federal Minister for Finance and Revenue of Pakistan Senator Muhammad Aurangzeb held talks with senior representatives of Rothschild & Co. on the sidelines of the World Bank–IMF Spring Meetings 2026.
During the meeting, the finance minister briefed the Rothschild team on Pakistan’s active plans to re-access international capital markets after a gap of four years.
He outlined that the instruments under consideration include Eurobonds, a Panda bond, and dollar-settled rupee-linked transactions, as part of a diversified financing strategy.
Senator Aurangzeb informed participants that the proposed Panda bond issuance is at an advanced stage, with formal regulatory approval expected imminently.
The Finance Minister of Pakistan appreciated Rothschild & Co.’s advice on pursuing a Liability Management Operation (LMO) as a strategic tool to help compress Pakistan’s yield curve and strengthen market confidence.
Both sides agreed on the importance of developing a robust pipeline of blended finance transactions in collaboration with multilateral development institutions to reduce overall borrowing costs.
The Finance Minister also highlighted the climate finance support committed by the World Bank Group under the 10-year Country Partnership Framework (CPF).
Concluding the meeting, Senator Aurangzeb appreciated Rothschild & Co.’s offer of advisory support across the full spectrum of Pakistan’s capital market re-engagement, including sovereign bond issuance, liability management operations, blended finance structuring, and sovereign rating advisory.
