In January-March, Belarus’ gold and currency reserves 9% up

In January-March 2008, Belarus’ international reserve assets increased by $521.6 million, or 10.4%, to $5514.3 million. Last month they increased by 1.2%, BelTA leant from the information department of the National Bank. Hard currency reserves account for the greatest share of the international reserve assets of Belarus ($4460.6 million, or 80.9%) and precious metals and gems ($968.6 million, or 17.6%). Over the past two months they increased by 9.9% and 14.4% respectively. Other assets account for $85.1 million, or 1.5%. In January-March 2008, Belarus’ international reserve assets calculated following the IMF methods increased by $563.4 million, or by 13.5%, to $4745.6 million. In March they increased by 9%. A reminder, according to International Monetary Fund, the Belarusian international reserves are defined as marketable foreign assets, which consist of monetary gold, special drawing rights, the country’s reserve position in the IMF and currency reserves. The reserve assets can be used quickly for money market interventions in order to stabilize the exchange rate of the national currency, for the government to finance import of goods and services, for paying and servicing the foreign national debt and for other purposes. In 2007, the Belarusian international reserve assets calculated using national terms spurred 3 times, to total $4992.7 million. By 2010, Belarus plans to grow its international reserve assets up to $10 billion.