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Pakistan reserves inch towards $5b mark

   LAHORE, Jan 4 (Internews): Pakistan's foreign exchange reserves are all
 set to pass the $5b mark for the first time in the country's 50-year
 history some time this month, official sources said here Friday.
 The liquid foreign reserves of the country registered an increase of
 $222.1m - to $4,920.8m - on Dec 31, 2001.
 These reserves were $4,632.2m after receiving $109.5m on Dec 21 as the
 first tranche of the International Monetary Fund's $1.3b Poverty
 Reduction and Growth Fund (PRGF) assistance.
 According to the State Bank of Pakistan, of the $4,920.8m on the last
 day of the last year, $3,207.5m was held by it while $1,713.3m held by
 banks other than it. -Internews


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