Currency swap: President stresses swift progress

Zardari emphasises the need for early finalisation of a currency swap agreement with China.

ISLAMABAD: President Asif Ali Zardari has emphasised the need for early finalisation of a currency swap agreement with China, saying such arrangements should also be made with Turkey and Sri Lanka to promote trade.

He was speaking during a meeting at the President’s House on Thursday. Briefing the media, the president’s spokesperson Farhatullah Babar said that State Bank Governor Shahid Kardar gave a briefing on progress made so far on currency swap arrangements with China.

Talking about Turkey and Sri Lanka, he said that Turkey has responded positively to such arrangement, adding that a Pakistani delegation recently visited Sri Lanka and held meetings with the State Bank of Sri Lanka governor.

Published in The Express Tribune, March 11^th, 2011.