Overview

• The 10-year bond, issued in 2015, matured on September 30, 2025, and was repaid in full as scheduled.
• Finance Ministry adviser Khurram Shehzad cited stronger foreign exchange reserves, better liquidity and recent upgrades to sovereign ratings.
• Pakistan’s bonds have been trading at a premium, which officials say points to improving investor confidence.
• Officials report the debt-to-GDP ratio declined from 77% to 70% and the external share of public debt fell from 38% to 32% by FY2025.
• Analysts and rating agencies say the repayment improves the credit outlook and lowers near-term default risk, with officials adding that easing global borrowing costs could support future market access.