Belarus gold forex reserves down by $574.6 million from October

Belarus' gold, forex reserves down to $6.8bn in October in IMF terms.

According to provisional data, as of 1 November 2013 Belarus’ gold and foreign exchange reserves totaled the equivalent of $6,813.1 million in line with standards of the International Monetary Fund, down by $574.6 million from October 2013, representatives of the Information and Public Relations Office of the National Bank of the Republic of Belarus told BelTA.

In national terms the gold and foreign exchange reserves amounted to the equivalent of $7,485.6 million as of 1 November 2013, down by $559.3 million.

The source attributed the decrease in the gold and foreign exchange reserves primarily to the repayment of external and internal obligations in foreign currency in full by the government and the National Bank of Belarus as well as to the peak loan repayment of the IMF’s stand-by program.

As of 1 January 2013 Belarus’ gold and foreign exchange reserves amounted to the equivalent of $8,095 million in IMF terms. In national terms the reserves stood at $8,763.1 million.