Pakistan repays $1 billion in Eurobonds, says central bank

Pakistan's central bank has repaid $1 billion in Eurobonds, it said on Saturday, a scheduled payment ahead of the South Asian nation seeking a long-term bailout from the International Monetary Fund. "The payment was made to the agent bank for onward distribution to the bond holders," the central bank said in a statement. Islamabad has been struggling with a balance of payments crisis, record inflation and steep currency devaluation since an IMF standby arrangement averted a sovereign default.