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After several months of growth, official reserve assets drop

After several months of growth, official reserve assets are declining. According to the National Bank of Moldova, at the end of August they amounted to 4.82 billion US dollars, down by 209 million dollars compared to July 31.

The decrease in official reserve assets was due to the payments related to Moldova’s external public debt service in the amount of 240.68 million dollars. Of these, $142.83 million represents the payment of principal and anticipated interest on the European Bank for Reconstruction and Development “Security of natural gas supply” loan.

Payments to the Ministry of Finance amounted to US$10.76 million. The decrease was due to the depreciation of the exchange rates of the component currencies of foreign reserves against the dollar – 26.54 million dollars.

At the same time, during the reporting period, the increase in official reserve assets was determined by the net inflows related to the mandatory reserves in foreign currency of the licensed banks in the amount of 24.16 million dollars. Credits and grants were registered in favor of the Ministry of Finance for investment projects in the amount of 20.62 million dollars. Revenues from the management of foreign exchange reserves amounted to 16.15 million dollars.

The NBM mentions that the interventions on the domestic foreign exchange market in the form of foreign exchange purchases were in the amount of 6.00 million dollars. Net inflows to the accounts of the Office of Foreign Assistance Program Management were $1.98 million, and other net inflows were $0.02 million.

Official reserve assets exceeded $5 billion at the end of July 2023.

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