Category : International
 Pakistan’s cabinet has approved the issuance of first-ever renminbi-denominated ‘Panda Bonds’ to raise loans from China’s capital markets, as the country moved a step forward to give the Chinese currency status at par with the US dollar. The Finance Ministry did not seek the Cabinet’s nod for the size of the bond, but it expects to raise $500 million to $1 billion in various tranches. The Philippines has also raised RMB1.46 billion through renminbi-denominated bonds. |
| Source: The Business Standard |
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