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Lukashenko suggests revising strategy on managing international reserve assets

MINSK, 18 December (BelTA) – It may be necessary to revise the strategy on managing international reserve assets. Belarus President Aleksandr Lukashenko made the statement in his address to the nation and the parliament on 18 December, BelTA has learned.

Aleksandr Lukashenko said: “Resources will always be made available for worthy projects. By the way, we have record-high gold and foreign exchange reserves. Do we really need to have as much as Western systems tell us to? I believe we should revise the strategy on managing international reserve assets.”

In his words, money should work while the revenues the National Bank earns by managing the reserves should be invested in the real sector of the economy: in modernizing manufacturing, in localizing the manufacturing of main parts and components, in profitable export contracts.

“During my latest lengthy business tour we talked a great deal about money and prospects to specialists, who have most of the foreign currency. They tried to convince me of one thing and I agree with them. I have been thinking about it for a long time. The world’s huge reserves worth trillions may become worthless tomorrow. Particularly considering the policy pursued by the previous administration of the United States of America. And the current one has not abandoned it,” the head of state stressed.

The president stressed that at any moment these reserves can be confiscated and declared illegal. Essentially they can be simply stolen.

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