Thursday, May 16 2013 21:59

Armenia's gross foreign assets down 9.3% in Q1 2013


ArmInfo. In Q1 2013 as compared with Q1 2012 Armenia's gross foreign assets were down by 7.3% to $1.631bln. As compared with Q4 2012 they dropped by 9.3%.

The press service of Armenia's Central Bank reports that the drop was due to annual decrease in SDR and net foreign assets – by 33 times and 3.8%, respectively.

In Q1 2013 SDR slumped by 19 times to $1.651mln (1.101 SDR), net foreign assets by 11% to $951.7mln.

In Q1 2012 gross foreign assets was down by 5.3% due to 4.2% drop in SDR and 16% fall in net foreign assets.

In 2008-2012 gross foreign assets grew by 28%: 2008 saw 15.2% growth, 2009 42.4% slump, 2010 10% drop, 2011 3.6% rise and 2012 7% fall.

There has been no bank gold in Armenia's gross international reserves since Dec 2003.
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