Settlement of debt in foreign currency by the National Bank of Belarus would require one third of the current volume of gold and currency (GCR) reserves in 2012.
Thus, according to the data on GCR, located on the site of the central bank of the country, lenders will get back $2.85 billion.
$1.85 billion will be allocated for repayment of loans and securities. Thus, in January, the National Bank will spend $367.8 million for this purpose, while in February and March - $122.2 million.
In addition, the National Bank is going to return slightly more than $1 billion to banks through the closure of future and forward transactions (swaps). In January, the National Bank will have to close the deals of $949.5 million worth.
Apart from the $2.85 billion debt, the National Bank still owes $1.22 billion in the form of guarantees on collateralized debt obligations, reports AFN.
According to the National Bank, the amount of foreign exchange reserves of Belarus amounted to $7.91 billion at the beginning of this year.
Meanwhile, the National Bank of Belarus got down to printing money again. Thus, according to the National Bank of Belarus, the total ruble mass (cash, denominated deposits and securities) amounted to Br43.355 trillion on January 1, 2011. This amount is 13.2% more than in December 2011. The amount of cash rubles in circulation has increased as well.