Pakistan Plans Eurobond Issuance Under GMTN Program in 2026
The Finance Minister, Muhammad Aurangzeb, announced that Pakistan plans Eurobond issuance under its GMTN program in 2026. This Eurobond issuance Pakistan keyphrase appears in the first paragraph to help clarity. He made the announcement while meeting a German investor delegation. They were led by German Ambassador Ina Lepel.
The government aims to return to international capital markets in 2026. In addition, Pakistan is looking at issuing a Panda Bond in China’s market. The Eurobond issuance Pakistan initiative forms part of a broader strategy.
Last month, Pakistan repaid a $500 million Eurobond that matured on 30 September 2025. It was issued in 2015 for a 10‑year term. As a result, the country now clears the way for its next entry.
Economic Stability and Investment Push
Aurangzeb outlined efforts to restore fiscal and external stability. He thanked the AHK German Bilateral Chamber of Commerce for bringing German investors to Pakistan. He encouraged them to explore sectors like technology, energy and manufacturing.
He pointed out that three major credit‑rating agencies—Fitch, S&P and Moody’s—have upgraded Pakistan’s outlook in recent months. In addition, the International Monetary Fund announced a staff‑level agreement after a review mission, highlighting international confidence.
Privatization and Sector Reform
On the energy front, 34 state‑owned enterprises have been handed to the Privatization Commission. The privatisation of Pakistan International Airlines (PIA) is moving forward. Four large international conglomerates are now doing due‑diligence.
Aurangzeb emphasised that improving macroeconomic fundamentals and positive geopolitical developments are making Pakistan more attractive for foreign direct investment. He cited renewed engagement with key partners like Europe, China, the United States and Gulf countries.
The planned Eurobond issuance Pakistan will undertake under the GMTN program sends a signal of readiness to global markets. For investors, this move opens new entry points into Pakistan. For the country, it marks a step toward deeper global financial integration.
The combination of fiscal reform, stabilization measures and privatization efforts creates a favourable environment. Therefore, the upcoming issuance under the GMTN program matters not just financially but strategically.
