ISLAMABAD:- The Ministry of Finance on Monday said that government has arranged enhanced flows for balance of payments support on bilateral and multilateral basis, which will strengthen the country’s international reserves position. The SBP-held reserves are currently standing at $7.1 billion (as on 3rd January), whereas SBP reserves were as low as USD 2.8 billion on 7th February 2014. Any argument regarding international reserves position cannot be grounded merely on ‘net international reserves’ position.

Instruments such as forward swaps and balance of payment support are used by central banks and governments all over the world to strengthen their international reserves.