Republic

MINSK, 1 December (BelTA) – The National Bank of the Republic of Belarus has transferred the $2.5 billion that the sale of 50% of OAO Beltransgaz has generated into the national gold and forex reserves, representatives of the NBRB information office told BelTA. The previous day the National Bank received $2.5 billion earned by selling 50% of Beltransgaz shares. As a result, according to preliminary calculations in November Belarus’ gold and forex reserves went up by $2.74 billion to $7.38 billion in IMF terms and over $8.92 billion in national terms. BelTA has been told that Belarus’ gold and forex reserves had been increased by the sale of Beltransgaz shares and the conversion of non-reserve assets into reserve ones. Accumulation of more gold and foreign exchange reserves in the future is a priority for the government and the bank, said the source.

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