Current account deficit shrinks 72.6pc in Nov: Hafeez Shaikh.

ISLAMABAD -- Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh has said that current account deficit is down by 72.6 per cent on a year-on-year in November 2019, whereas it was reduced by 73 per cent during the first five months of FY20 against the same period of last year. The adviser said that during the last five months of the current fiscal year, the State Bank of Pakistan's reserves have increased by $1.8 billion and there has been a reduction of $3 billion in foreign exchange swaps/forward liabilities increased foreign exchange buffer by $4.8 billion which provided further stability to the external account. It is pertinent to mention that on December 13, the foreign currency reserves held by the...