As of January 31, 2000 net gold and foreign currency reserves of Kazakhstan grew 0.8% in last two weeks up to $1.479 bln

/IRBIS, Feb.2, 00/ - In its press-release (#004) of February 2, 2000 the National Bank of Kazakhstan informs: "From January 14 through 31 of current year gross international reserves decreased $5.3 mln (0.3%) in current prices. Currency reserves decreased $6.9 mln, and gold assets grew $1.6 mln (0.3% price increase) at that : In real terms gross reserves decreased 0.3%, net international reserves rose 0.7%. Hard currency assets fell 0.5%, gold assets remain unchanged". It is also said in the press-release that "decrease in currency reserves was due to servicing external debt of the Ministry of finance and the National Bank, which was partially compensated by the National Bank's purchases of the currency on domestic market. As a result, decrease in gross reserves was smaller than in external debt of the National Bank (by $16.5 mln or 3.5%). Resulting net international reserves rose $11.2 mln (0.8%) in current prices". It is also said that "from January 14 through 31 of this year decrease in net internal assets of the National Bank (increase in government deposits) caused the monetary base to shrink by 5.7% (or KZT6.4 bln). Following is the table which shows international reserves of the National Bank of Kazakhstan and the monetary base as of January 31, 2000: In current prices In real terms* Jan.31, 2000 Jan.31, 2000 -------------------------------------- ----------------- -------------- Gross international reserves, mln USD 1,937.3 1,945.2 including: assets in hard currency 1,428.2 1,428.2 gold 509.1 517.0 Net international reserves, mln USD ** 1,479.3 1,487.2 Money base, bln tenge 105.7 105.7 USD/KZT(at the end of period) 139.45 83.8 Price of gold (for 1 troy ounce, USD) 283.05 287.45 -------------------------------------- ----------------- -------------- * Price of gold is shown for the end of 1998 ($287.45 per 1 troy ounce); ** Net international reserves is a difference between gross reserves and liabilities in hard currency.