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NEWS UPDATES Asean Affairs     9 November  2011

Third quarter capital outflows hit Indonesia

Indonesia’s balance of payments booked a US$4 billion deficit in the third quarter this year on the large amount of capital outflows in the financial market, Bank Indonesia (BI), the country’s central bank, said.

The deficit was mainly due to a $3.4 billion negative transaction in the capital and financial balance, while the current account surplus was low at $200 million during the July-September period, the central bank said in a statement released on Tuesday.

“The outflow in portfolio investment was triggered by global financial turmoil amid the lengthy process to resolve the European debt crisis,” the press statement read.

The current account surplus was supported by a “better oil and gas trade balance after booking a deficit in the previous quarter” as the volume of oil production and gas exports rose while oil import volume declined, BI said.

The balance of payments deficit was pressured by foreign exchange reserve concerns, which were down by more than $10 billion from the August high of $114.5 billion. The figure, nevertheless, could still afford 6.6 months of the nation’s imports and government foreign debt bills, the central bank said.

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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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