BELARUS NEWS AND ANALYSIS

DATE:

14/01/2008

National Bank of Belarus increase net foreign assets 160% in 2007

MINSK. Jan. 14. (Interfax) - The National Bank of Belarus' net foreign assets, as of January 1, 2008, came to $4.197 billion, an increase of 160% since the start of 2007, the National Bank said in a statistical report.

In December, the National Bank's net foreign assets grew by 47.5% following the issue of a $1.5 billion stabilization loan, following growth of 10.7% in November.

Net foreign asset growth in 2007 was driven by a threefold increase in gross foreign assets to $4.802 billion against a 4740% boost in gross foreign liabilities to $604.8 million.

The report said that the National Bank's total foreign assets in freely convertible currency, as of January 2008, came to $3.887 billion, an increase of 160% since the start of 2007, including an increase in December of 47.8%. Total currency with restricted convertibility increased 130% in 2007 to the equivalent of $309.6 million.

The National Bank of Belarus' net foreign assets increased 16.6% in 2006 to $1.614 billion following growth in 2005 and 2004 of 60.4% and 43.5%, respectively.

Source:

http://www.interfax.com/3/354056/news.aspx