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Belarusian Reserves Shrank in July for Second Decrease This Year

Aug. 7 (Bloomberg) -- Belarus’s international reserves dropped last month for the second time this year as the country serviced debt in foreign currencies.

The gold and foreign-currency holdings shrank 1.2 percent in July to $8.23 billion, the central bank in the capital, Minsk, said in an e-mailed statement today.

Belarus wants to maintain its reserves at between $6.1 billion and $7 billion until the beginning of 2013, according to monetary-policy guidelines approved by the government. Preventing the stockpile from dropping below 2011’s year-end level will be a top priority for policy makers in the second half of 2012, the central bank said July 18.

To contact the reporter on this story: Aliaksandr Kudrytski in Minsk, Belarus at akudrytski@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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