Reserves in banking sector up USD 22 mln

The foreign reserves of the banking system amounted to about USD 1.07 bln in March, increasing by USD 22 against February. According to the data from the central bank, the foreign reserves of the NBM have increased by USD 10.1 mln to USD 786.1 mln. The foreign bonds of the banking system amounted to USD 327.2 mln, including of the NBM (against IMF) 0 ISD 133.2 mln. On March 31 2007 the debt to the IMF has increased by USD 0.69 mln compared with February 2007. The stock of the foreign debt not guaranteed by the Government (including the interest arrears) increased by USD 50 mln compared to the beginning of the month, constituting USD 761.21 mln. The reserves of the NBM amounted to USD 775 mln at the end of 2006, topping the USD 750 mln target agreed with the IMF, the data from the central bank show. During 2006, the reserves had an impressive evolution from USD 597 mln, at the beginning of the year, to USD 775 mln, at the end of the year. For 2007, the analysts say that the reserves will continue to grow fast, both as a result of the purchases of foreign currency on the internal market and due to the fact that the IMF announced it will increase the financing for Moldova.

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