Macroeconomic Forecast PakistanFebruary 2010 | Macroeconomic Forecasts
Pakistan's current account deficit widened in December, to US$391mn from US$283mn in November. A key risk for the current account that we have previously highlighted is the potential for remittances from abroad to decline. December saw remittances drop to US$698mn, from US$743 in the previous month. We expect this dynamic to continue, putting further downside on the Pakistani rupee, which slipped 1.54% in the first month of 2010. We are targeting PKR90.00/US$ by year end.
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