IMF: Gold Reserves Still Insufficient in Belarus

06.03

Belarus is still lacking foreign reserves, noted in the International Monetary Fund. This was reported to the press by head of the IMF mission in Belarus Chris Jarvis on March 5, summing up the mission. However, he believes that Belarus is able to repay the debt to foreign creditors.

According to Chris Jarvis, it might be useful for Belarus to obtain additional funding through external borrowing to build up reserves and ensure greater reliability of the country's external position.

As Telegraf previously reported, Chris Jarvis ]]> deems ]]> it possible to consider the issue of the IMF financial support to Belarus under the new program.

February 1, international reserves of Belarus amounted to nearly $7.97 billion in the IMF standard definition. According to the National Bank of Belarus, the gold reserves have increased by Br52.5 million through raising the price of gold on the international market of precious metals. Also, the surplus of purchase-and-sale of foreign currency on the Belarusian Currency and Stock Exchange contributed to the growth of reserves. In the national definition, gold reserves reached the level of $9.5 billion, having increased by $106.3 million in January.

Head of the National Bank Nadezhda Ermakova ]]> stated ]]> at the government session on February 7 that this year's gold reserves should be kept at the level of $7.9 billion.

External source of this news: http://telegraf.by/en/2012/03/mvf-zvr-v-belarusi-vse-esche-malo

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IMF: Gold Reserves Still Insufficient in Belarus

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