In 2010 Belarus’ international reserve assets calculated using the IMF methods were down 11% to $5030.7 million. In December they reduced by 11.8%, BelTA learnt from the NBRB Information Office.

In line with the methods used by the International Monetary Fund, Belarus’ international reserves are defined as marketable foreign assets, which consist of monetary gold, the country’s special drawing rights in the IMF, the country’s reserve position in the IMF and foreign currency reserves. The reserve assets can be promptly used for money market interventions in order to stabilize the exchange rate of the national currency, to finance the import of goods and services by the government, for paying and servicing the foreign national debt and for other purposes.

In 2010 Belarus’ international reserve assets calculated using national methods grew 2.9% to $6155.3 million.

As of 1 January hard currency accounted for the larger part of the international reserve assets of Belarus ($2828.7 million, or 46%) along with precious metals and gems ($1803.4 million, or 29.3%). Last year the hard currency assets went up by 11.8%, the volume of precious metals and gems was up by 58.7%. Other assets amounted to $1523.2 million, or 24.7%. In 2010 they decreased by 34%.

In 2011 gold and forex reserves of Belarus will increase by at least $1.2 billion. It is envisaged in Belarus draft monetary policy guidelines for 2011.

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