Pakistan’s $3bn bond sale signals shift away from G2G borrowing

Dependency on bilateral loans is waning, but experts say reliance on Chinese money remains Experts warn that the shift from government-to-government (G2G) borrowing to commercial financing will raise Pakistan's debt-servicing costs. © AP ISLAMABAD — Pakistan raised a record $3 billion from global investors in its largest-ever international bond sale, underscoring the country's gradual shift away from intergovernmental loans and helping Islamabad gain freer fundraising capacity regardless of its diplomatic circumstances.

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