To resume any meaningful relations with the IMF, we had to establish a track record of performance before they could agree to debt restructuring. In 2000, Pakistan entered into a nine-month stand-by  1/3  arrangement which involved a large number of prior policy actions, performance criteria and structural conditions.
*** Capital markets are expected to play a key role in mobilising and allocating financing to green projects. After the European investment bank issued the world's first green bond in 2007, the global green and ESG bond markets have expanded significantly but they still represent a low percentage of new bond issuances.