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Citibank

Pakistan’s fight against current account deficit

Pakistan is currently fighting to contain the current account deficit, with plans underway to raise $750 million through Eurobonds. And all eyes are set on the release of the $500 million plus second tranche of a $6.7 billion IMF loan. Officials of the ministry of finance say they have approached Citibank, HSBC and China International Banking Corporation to advise them on the bond issue to shore up the dwindling foreign exchange reserves. Overall liquid forex reserves have fallen below $10 billion primarily because of…