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NEWS UPDATES Asean Affairs    9  June  2016  

FX reserves lose $4.1 b in May

Foreign exchange ( FX ) reserves fell by US$4.1 billion over the course of just one month, standing at $103.6 billion by the end of May, according to a Bank Indonesia ( BI ) statement issued on Tuesday.

The central bank attributed the steep drop to high demand for seasonal FX obligation payments, which usually include dividend payments. Repayments of government debt and rupiah value stabilization measures also contributed to the fall.

However, FX reserves remain sufficient to fund 7.9 months of imports or 7.6 months of imports and foreign debt payments, above the international standard of equal to three months of import payments.

BI projected that May’s plunge would prove temporary, thanks to an improving global economy, as shown by a greater FX supply in the domestic market.

“Bank Indonesia is of the view that FX reserves are enough to support [the country's] external sector tenacity and maintain the continuity of Indonesia's economic growth,” BI spokesperson Tirta Segara wrote in the statement.

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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