BELARUS NEWS AND ANALYSIS

DATE:

09/06/2008

Belarusian gold and Forex reserves up 7.2% in Jan-May

MINSK. June 9. (Interfax) - Belarus' gold and Forex reserves according to national standards came to $5.351 billion as of June 1, 2008, up 7.2% since the start of the year, the National Bank of Belarus said in a statistical note.

Gold and Forex reserves increased 0.8% in May after a 3.8% decrease in April and 1.2% growth in March.

Belarus' gold and Forex according to International Monetary Fund (IMF) standards rose 6.7% to $4.46 billion.

It was earlier reported that Belarus' international reserve assets increased threefold (after going up 6.7% in 2006) in 2007 and came to $4.182 billion as of January 1, 2008. According to national accounting standards, the country's gold and forex reserves increase 190% in 2007 and came to $4.998 billion as of January 1, 2008.

For 2008, the National Bank of Belarus forecasts an increase in the country's international reserve assets according IMF standards of no less than $280 million.

National Bank head Pyotr Prokopovich expects Belarus' gold and forex reserves to reach up to $10 billion by 2011.

The National Bank of Belarus' current gold supply comes to around 27 tonnes.

Source:

http://www.interfax.com/3/401795/news.aspx

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