OREANDA-NEWS. September 16, 2008. In January-August 2008, Belarus’ international reserve assets were up 12.2% to USD 5603.1 million. Last month they were up 1.4%.

Hard currency reserves account for the greatest share of the international reserve assets of Belarus (USD 4618.4 million, or 82.4%)) and precious metals and gems (USD 890.8million, or 15.9%). Over the past eight months they increased by 13.8% and 5.2% respectively. Other assets account for USD 93.9 million, or 1.7%.

In January-August 2008, Belarus’ international reserve assets calculated following the IMF methods increased by 9.5% to USD 4579.6 million. 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 USD 4992.7 million.

By 2010, Belarus plans to grow its international reserve assets up to USD 10 billion.