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Wednesday July 1, 2009

Bank Negara: Reserves remain stable


PETALING JAYA: Malaysia’s reserves remained usable and unencumbered as at May 2009, according to Bank Negara.

Its official reserve assets amounted to RM309.12bil while other foreign currency assets amounted to RM573.30mil for the first five months of the year, it said in a statement yesterday.

“For the next 12 months, the pre-determined short-term outflow of foreign currency loans would amount to US$2.05bil (RM7.18bil) arising from scheduled repayment of external borrowings by the government,” it said.

The amount, however, excluded the projected foreign currency inflows arising from interest income and drawdown of project loans amounting to RM12.29bil in the next 12 months, Bank Negara added.

“The only contingent short-term net drain on foreign currency assets are government guarantees of foreign debt due within one year, amounting to US$282mil (RM987mil).

“There are no foreign currency loans with embedded options, no undrawn, unconditional credit lines provided by other central banks, international organisations, banks and other financial institutions,” Bank Negara said.


For Bank Negara statements click here

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