National Bank: Volume of reserves provides margin of safety for economy
The current volume of gold and foreign exchange reserves provides a sufficient margin of safety to maintain the country’s macroeconomic and financial security. The National Bank of Kyrgyzstan reports.
The country’s financial regulator denied reports that there is a sharp decline in gold and foreign exchange reserves. As of July 27, 2021, the size of the National Bank’s reserves amounted to $ 2.65 billion. This covers about six months of imports of goods and services with a minimum recommended three months of imports.
«There has been an increase in the country’s gold and foreign exchange reserves in the last few years. So, at the end of 2019, gold and foreign exchange reserves amounted to $ 2.4 billion, at the end of 2020 — $ 2.8 billion. During the year, both an increase and a decrease in the volume of international reserves can occur,» the statement says.
