Govt decides to release worth $2b Euro bonds
The government has decided to release Euro bonds of worth $2 billion, reported 24NewsHD TV channel on Monday.
The bonds will be released for five, 10 and 30-year terms while the government has also hired four banks namely Standard Chartered, Credit Swiss, GP Morgan and NBD Capital as consultants for the purpose.
Ahsan Mehanti, an economist, has expressed the hope that the sale of Euro bonds would pay dividends. “At the same time, reserves will increase considerably after the country receives $500 million from the International Monetary Fund (IMF) and $1.30 billion from the World Bank (WB).
Sources in Ministry of Finance have told 24News that there will be six per cent profit on investment in the Euro Bond of five-year term; eight per cent profit on investment in Euro Bond of 10-year term and 10 per cent profit on Euro Bond of 30-year term.
Contributed by Ashraf Khan