MINSK, 23 May (BelTA) - The National Bank of the Republic of Belarus (NBRB) plans to ramp up the gold and forex reserves up 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”, BelTA has learned.
“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.
BelTA reported earlier, in January-April 2017 Belarus' gold and foreign currency reserves went up by 3.7%, if calculated in accordance with the methods of the International Monetary Fund, and amounted to $5.1 billion.
