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A lot of media published the news of the National Bank increasing the gold reserves of Belarus to $ 8.5 billion. What does this mean?

Past news

According to the National Bank, the fact of an increase in the gold and foreign exchange reserves is primarily associated with the distribution of special drawing rights (SDR) by the IMF, where the quota of Belarus is almost $ 1 billion.

As the initiators of the blocking campaign for the regime of access to IMF resources, we consider it important to clarify what this news means.

1) The IMF decision on the distribution of SDR actually came into force on August 23. Today the National Bank simply reported that the resources were transferred to the SDR account of Belarus in the IMF.

2) Back on August 23, we explained that the fact of receipt does not mean at all that it is impossible to prevent the use of these funds. The decision on blocking for the SDR account access mode can be made at any time.

3) In our "Analysis of the Belarusian case within the SDR 2021 allocation" we prepared in detail how the regime can use SDR — and how it can be prevented. Shortly: the most effective tool is the official non-recognition of Lukashenka and his government, which guarantees blocking their access to the IMF resources.

4) This is the goal that the NAM and all democratic forces should seek today — in order to prevent the regime from using the allocated SDRs. Let us also remind that in the distribution of SDR 2022, the quota of Belarus will already amount to $ 3 billion. Therefore, the total "issue price" of non-recognition is almost $ 4 billion.

5) To achieve this goal, the NAM is carrying out colossal work on the diplomatic line — within the framework of a series of meetings between Pavel Latushka and high-ranking diplomats and politicians. Also earlier, joint letters of the NAM and Democratic Forces were sent to a number of political structures of friendly countries.

6) Joint work of the NAM, Democratic Forces and Diaspora finds more and more response. So it became possible for the appearance of a letter from Senator Menendez to Biden. On September 3, our non-recognition argument was also supported in an article by the American think tank Atlantic Council: link

Conclusion: our work is not over. The goal — to achieve an official decision on non-recognition of Lukashenka and his government — should become common for all Belarusian democratic forces and our allies.

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