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Belarus’ gold forex reserves at $9.4bn in 2019

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MINSK, 8 January (BelTA) – According to the preliminary data, Belarus’ foreign currency reserves amounted to $9,393,500 (in equivalent) as of 1 January 2020, BelTA has learned from the Information and PR Department of the National Bank of the Republic of Belarus.

According to the country’s main monetary guidelines for 2019, the volume of the international reserve assets was expected to reach at least $7.1 billion by 1 January 2020.

In 2019, Belarus’ foreign currency reserves went up by $2.2 billion (or 31.2%), including by $234.7 million (or 2.6%) in December alone.

In 2019, the country’s gold and foreign exchange reserves were mainly bolstered due to the purchase of foreign currency by the National Bank via the Belarusian Currency Stock Exchange, tax revenues, duties and other payments in foreign currency to the state budget, and also due to the issue of government bonds denominated in foreign currency by the Finance Ministry and the central bank.

In 2019, the National Bank and the government of the Republic of Belarus honored the foreign and domestic obligations in foreign currency to the total of $4.2 billion, including $355 million in December.

According to the country’s man monetary guidelines for 2020, the volume of the international reserve assets is expected to make up at least $7.3 billion by 1 January 2021, with domestic and external liabilities in foreign currency fully repaid by the government and the National Bank.

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