The National Bank of the Republic of Belarus (NBRB) plans to ramp up the gold and forex reserves to $8-8.5 billion, First Deputy Chairman of the NBRB Board Taras Nadolny said during the roundtable meeting “Belarus’ Banking Sector: Recovery Round the Corner”.
“There is every reason to expect this. We have been making positive interventions to buy up the excess foreign currency. This is the result of Belarus’ flexible exchange rate policy,” Taras Nadolny clarified.
According to him, Belarus’ critical import is planned to average three months by 2020. There are also plans to build up the gold and forex reserves without resorting to loans.
In January-April Belarus’ gold and foreign currency reserves went up by 3.7% YoY, if calculated in accordance with the methods of the International Monetary Fund, and amounted to $5.1 billion. (BelTA/Business World Magazine)
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