2000-02-07 Kazak Politics & MacroEconomics
Article Index
Kazakhstan Weekly
Politics & Macro Economics
Monday February 7, 2000
Gross Gold and Currency Reserves Fall Slightly
Kazakhstan’s gross gold and currency reserves fell by USD 5.3 million (0.3%) between 14 January and 31 January, the National Bank (NB) reported. Reserves totalled USD 1.937 billion at the end of last month. This figure includes USD 1.428 billion in hard currency reserves, a drop of USD 6.9 million over the second half of January.
The NB attributed the fall in currency reserves to payments made by the Finance Ministry to settle the sovereign debt. Meanwhile, an increase in gold prices helped boost gold reserves by USD 1.6 million (0.3%).
Net gold and currency reserves, which take into account hard currency obligations, grew by USD 11.2 million (0.8%) to about USD 1.479 billion.
Kazakhstan’s monetary base stood at KZT 105.7 billion on 1 February, a decrease of KZT 6.4 billion (5.7%) from mid-January. (Interfax)
CPC Updates Progress on Pipeline, Completion Date Set for Oct. 2001