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25 Jan 2018

Belarus’ central bank plans to increase gold, forex reserves

MINSK, 25 January (BelTA) – Belarus’ National Bank has plans to increase the gold and foreign currency reserves, Chairman of Belarus’ National Bank Pavel Kallaur told the media, BelTA has learned.

“Last year we increased the gold and foreign currency reserves, which we see as a safety cushion, to perform the external liabilities. The Finance Ministry has already redeemed the eurobonds in full. Of course, this will have some impact on the gold and foreign currency reserves in January, but we have plans to build them up,” Pavel Kallaur said.

“The goal to have the reserves not lower than $6 billion while performing external liabilities will be met,” he said.

As it was reported, Belarus’ gold and foreign currency reserves totaled $7,315 million as of 1 January 2017, if calculated in accordance with methods of the International Monetary Fund. In December 2017, the country’s gold and foreign currency reserves went down by $98.4 million (1.3%) following the November growth by $18.4 million (0.2%).

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