Twirp : Terrorist Wahabi Islamic Republic Pakistan

[Naresh]

<b>Mudy Ji :</b>

Twirpistan is steadily charging headlong into Economic Oblivion :

[center]<b><span style='font-size:21pt;line-height:100%'>1. Pakistan’s liquid foreign reserves figure US Dollars 11.8852 Billion</span></b>[/center]

<b>KARACHI, May 22 (APP) : Pakistan’s total liquid foreign reserves stand at 11,885.2 million dollars,</b> says a statement issued by State Bank of Pakistan here on Thursday.

On May 17, 2008 foreign reserves held by SBP amounted 9,500.1 million dollars, whereas net foreign reserves held by banks other than SBP were 2,385.1 million dollars.

[center]<b><span style='font-size:21pt;line-height:100%'>2. Pakistan's Central Bank Warns Government To Stop Borrowing</span></b>[/center]

<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->KARACHI : <b>Pakistan’s current account deficit widened sharply in the first 10 months of the current fiscal year, underlining the pressures on the economy, and for some analysts, increasing the need for tighter fiscal and monetary policy.</b>

Analysts say pressure on the current account is mainly due to rising commodity prices, including oil and food, and a short-term solution could be to reduce domestic demand through fiscal and monetary policy.

The deficit swelled to $11.586 billion, the State Bank of Pakistan (SBP) said on its website on Wednesday. That compared with $6.628 billion in the same period last year. The 10-month deficit is equivalent to about 7.3 per cent of the gross domestic product, compared with a full-year target of 4.8 per cent.<!--QuoteEnd--><!--QuoteEEnd-->

Cheers <!--emo&:beer--><img src='style_emoticons/<#EMO_DIR#>/cheers.gif' border='0' style='vertical-align:middle' alt='cheers.gif' /><!--endemo-->