By the end of September, Pakistan will repay a $500 million Eurobond.

The Ministry of Finance has reported that Pakistan has agreed to pay back a $500 million Eurobond by September 30.

The repayment won’t put any strain on the nation’s foreign exchange reserves, officials affirmed. The plans were also verified by Jamil Ahmed, governor of the State Bank of Pakistan.

$3.5 billion of the $26 billion in external debt that was due this fiscal year has already been paid back. According to sources from the Finance Ministry, this includes $2 billion in rollovers and $1.5 billion in payments.

The remaining external debt will also be paid back on schedule, according to officials.

Regarding the rollover of $9 billion in deposits from friendly nations, the government has maintained its optimism. Among these were $4 billion in safe deposits from China and $5 billion in time deposits from Saudi Arabia.

The Ministry of Finance states that these rollovers will take place in accordance with the conditions of the current IMF program.