Belarus gold, forex reserves down to $7.7bn in August in IMF terms

According to provisional data, as of 1 September 2013 Belarus’ gold and foreign exchange reserves totaled the equivalent of $7.712 million in line with standards of the International Monetary Fund, down by $214.9 million in August 2013.

In national terms the gold and foreign exchange reserves amounted to the equivalent of $8,430.4 million as of 1 September 2013, down by $135 million.

Belarus’ gold and foreign exchange reserves have contracted due to the National Bank and the Belarusian government honoring their domestic and foreign liabilities in foreign currency in full. An increase in gold prices on the international market of precious metals as well as the floatation of forex bonds by the Finance Ministry on the domestic market of the country supported the volume of the country’s gold and forex reserves at a decent level in August 2013.

In IMF terms Belarus’ gold and foreign exchange reserves amounted to the equivalent of $8,095 million as of 1 January 2013. In national terms the reserves amounted to $8,763.1 million. There are plans to raise the international reserve assets by $300-700 million for the sake of ensuring the national economic security in 2013.