Sovereign Debt Specialist

The USAID-funded Pakistan FMD Program will be a $20-25 million activity to introduce financial sector reforms that will strengthen Pakistan’s Debt Capital Market and improve management of Sovereign Debt. Activities will include supporting the GoP in creating an enabling environment for the development of debt capital markets, supporting the GoP in improving sovereign debt issuance and supporting development credit authority loan portfolio guarantees.

Sovereign Debt Specialist
Provide technical assistance to the SECP (including the Specialized Companies Division) in:
 Developing and adopting new regulations that support development of financial market
infrastructure
 Building capacity of key staff charged with management of debt markets and adoption of best
practices; ensuring transparent listing of sovereign debt securities meeting international best
practices; strengthening the recently established "Price Discovery System"; promoting the
availability of free and accurate information; and evaluating regulations on the financial market
infrastructure
 Improve clearing, settlement and depository/custodian functions through targeted advisory and
technical support to the National Clearing Company of Pakistan Limited (NCCPL) and the
Central Depository Company Limited (CDC).
 Partner with selected private sector banks and brokerage firms to improve their ability to become
“market makers.” Increase their financial and debt instrument literacy; train investment banks to
act as underwriters (for listed securities) and placement agents (for unlisted securities) that
distribute securities through institutional and retail networks; train select lawyers and law firms to
be knowledgeable in all aspects of bond structuring and the legal environment generally
regarding creditors and credit markets.
 Designing and implementing investor education programs existing at the SECP, SBP and engage
with these stakeholders to strengthen their technical capacity.