Growth of gross international reserves driven by rising gold prices

12:42, 04 марта 2025, Bishkek - 24.kg news agency , Baktygul OSMONALIEVA

The growth of gross international reserves continued in the fourth quarter of 2024, driven by an increase in gold reserves and rising gold prices. A report by the Eurasian Fund for Stabilization and Development (EFSD) says.

It is noted that in early autumn last year, the volume of gross international reserves reached $4.3 billion — a 63.6 percent increase compared to the same period of the previous year.

The report states that gold remains the primary growth factor, accounting for $2.2 billion. In September 2024, both physical reserves of the precious metal (+23.5 percent) and prices for it (+42.3 percent) increased.

The EFSD added that by the end of 2024 the level of the reserves increased to $5.1 billion (+57.2 percent).