Limit search to available items
Book Cover
Author Mirakhor, Abbas, author

Title Foreign currency deposits and international liquidity shortages in Pakistan / prepared by Abbas Mirakhor and Iqbal Zaidi
Published [Washington D.C.] : International Monetary Fund, [2004]
Online access available from:
IMF eLibrary    View Resource Record  


Description 1 online resource (38 pages)
Series IMF working paper ; WP/04/167
IMF working paper ; WP/04/167
Summary This paper studies the implications of foreign currency deposits (FCDs) for international liquidity shortages in Pakistan. The analysis focuses on how the large volume of FCDs and the specific institutional characteristics of those deposits have made the Pakistan economy highly vulnerable to exogenous shocks. The analysis shows that FCDs created another channel for government borrowing, and fiscal sustainability in a "closed" system may be very different from sustainability in a more "open" system. There is a need to think of these issues in terms of total balance sheet vulnerability, and we recommend measures that would make domestic-currency-denominated assets attractive to investors
Bibliography Includes bibliographical references
Notes Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. MiAaHDL
digitized 2010 HathiTrust Digital Library committed to preserve pda MiAaHDL
Print version record
Subject Banks and banking -- Pakistan.
Debts, Public -- Pakistan.
Foreign exchange -- Pakistan.
Monetary policy -- Pakistan.
Form Electronic book
Author Zaidi, Iqbal, author
International Monetary Fund. Office of the Executive Director for Afghanistan, Algeria, Ghana, Islamic Republic of Iran, Morocco, Pakistan and Tunisia, issuing body
ISBN 1282026577