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Belarus` gold and foreign exchange reserves said to have increased by $106.2 million in April

 

Minsk, 7 May. Belarus' gold and foreign exchange reserves (international reserves calculated in accordance with the International Monetary Fund’s standards) increased by $106.2 million in April to $8,254.9 million as of May 1, 2013, reported the press office of the National Bank of Belarus (NBB).

"The reserves increased thanks to the fifth, $440-million tranche of a stabilization loan from the Anti-crisis Fund of the Eurasian Economy Community," the press office said.

A significant decline in prices of precious metals in the international market had a negative effect on the volume of the reserves, the press office noted.

However, the NBB and the government made all necessary payments to meet internal and external foreign currency liabilities, the press office said.

On May 3, NBB head Nadzeya Yermakova told reporters that the NBB was hoping that the nation’s gold and foreign exchange reserves would increase to about $8.3 billion in 2013 in line with the target.

“There will be payments to be made,” she said. “Both the Ministry of Finance and the National Bank are paying to Belarusian commercial banks under deals made in 2010. We pay when the time comes.” //BelaPAN