Reserves remain usable and unencumbered

BANK Negara Malaysia (BNM) said Malaysia's total international reserves as at end December 2004 remained usable and unencumbered. 

Providing the detailed breakdown of the international reserves, the central bank said that the country's total international reserves as at end-December 2004 amounted to US$66,712.5mil, comprising official reserve assets of US$66,209.3mil and other foreign currency assets of US$503.2mil. 

It said that for the next 12 months, there would be a predetermined short-term net inflow of foreign currency loans, securities and deposits amounting to US$680mil. 

The central bank said that the projection did not include potential inflows from trade, foreign direct investments or portfolio flows.  

The only contingent short-term net drain on foreign currency assets is government guarantees of foreign debt due within one year, amounting to US$398mil, it said. 

There are no foreign currency loans with embedded options, no undrawn, unconditional credit lines provided by or to other central banks, international organisations, banks, and other financial institutions, it said. – Bernama 

For the full report from Bank Negara click here

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