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7.08.2014

Gold and currency reserves shrunk by $667 mln  ? 5

14:55, — Economics

Gold and currency reserves shrunk by $667 mln

As of August 1, 2014, the gold and currency reserves of Belarus amounted to $6209.2 mln.

They have dropped by $216.8 mln over July, as AFN reports with a reference to the National Statistics Committee.

The main reason of the gold and currency reserves reduction was performing obligations of servicing the state debt by Belarus. In particular, payments for the IMF loan in July were $169 mln, $80 mln were paid for Eurobonds. To some degree the decrease had been influenced by a downward reevaluation of the gold reserve, the monetary gold went down by $141.5 mln.

However, in June Belarus received $450 mln dollars of intergovernmental loan of Russia. In this way the decrease of the gold and currency reserve net of the Russian loan was at least $667 mln.

Recently Belarus Prime Minister Myasnikovich claimed that the foreign trade balance of Belarus is positive, the population and enterprises sell currency. But his statements do not coincide with the data of the official statistics (figures of the National Bank of Belarus on the balance of operations in the currency market in July are not published yet).

Since the beginning of the year the gold and currency reserves amounted to $3255.2 mln. They have grown by $243.1 mln over the July-2014. The monetary gold has dropped by $141.5 mln and amounts to $1610.8 mln. Other assets are equal to $774.2 mln, they have decreased by $313 mln in July. The IMFs special drawing rights have dropped by $5.4 mln and amount to $569 mln as of August 2014.


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