Pakistan’s current deficit declined by 72.6 pc: Hafeez Shaikh

hafeez shaikh
ISLAMABAD: Advisor to Prime Minister on Finance Dr. Abdul Hafeez Shaikh has said on Friday that the current deficit declined by 72.6 percent in November and 73 percent between July-November this year. 
Sharing latest figures on the external deficit and foreign reserves on Twitter, he said in five months, an increase in State Bank of Pakistan’s reserves by “$1.8B & reduction of $3B in FX swaps/forward liabilities increased FX buffer by $4.8B,” providing further stability to an external account.

READ MORE: Price hike due to trade ban with India, says Hafeez Shaikh

It is noteworthy that the International Monetary Fund (IMF) has approved a second tranche worth of $450 million for Pakistan under the $6 billion Extended Fund Facility in a meeting of its executive board in Washington.

READ ALSO: Macroeconomic stability restored, Hafeez Shaikh tells ADB Forum

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