LAHORE  - The total liquid foreign reserves held by the country stood at $8.05 billion on January 3, 2014. During the week ending 3 Jan, SBP’s Liquid FX Reserves decreased by $412 million to $3,245 million compared to $3,657 million in the previous week. The decrease in the Central Bank reserves is partly attributed to the payments of $160 million on account of external debt servicing, of which $109 million was paid to IMF as 26th installment of SBA, and other official payments from its reserves during this week. 

During the week, there was no significant inflow from multilateral and bilateral sources.  It is to be noted that total liquid foreign reserves held by the country stood at $8.09 billion on December 20, 2013. Foreign reserves held by the State Bank of Pakistan stood at $3.193 billion, while the net foreign reserves held by banks (other than SBP) are at $4.897 billion. The total reserves of the country stood at $8.090 billion during that period.

During the week ending December 20, the spokesman of the central bank said SBP’s liquid foreign reserves decreased by $275 million to $3.193 billion as compared to $3.468 billion in the previous week. He said the decrease in the central bank reserves was mainly due to payments of $185 million, of which external debt servicing was $162 million inclusive of $58 million repayment to International Monetary Fund and other official payments equal to $23 million.

During that week, there was no major inflow from multilateral and bilateral sources.

On the successful completion of first review, disbursement of the second tranche of Extended Fund Facility of $554 million was received on December 23.