Tell us something we didn’t know: A widening current account deficit will add further pressure on the country’s net international reserves while devaluation could worsen already-high inflation levels, according to Gulf News. Garbis Iradian, chief economist for the Middle East and Africa at the Institute of International Finance, says the CBE’s recent actions to lift caps on deposits of foreign currencies, ease foreign exchange controls, and introduce new investment products “together with a much better valued exchange rate may encourage the return of foreign portfolio investors. Even with the depreciation, it will remain challenging to finance the large twin deficits.” Thanks, for the enlightenment Gulf News.