Minister explains debt rise
PA Wellington The Minister of Finance, Mr Douglas, yesterday moved to pre-empt criticism of an expected big rise in official overseas debt, saying it did not mean a rise in over-all indebtedness.
Today’s figures would show a further significant increase, Mr Douglas said. Net borrowings had increased about $3.4 billion between September 30, 1986, and December 31, 1986.
“This is principally due to an increase in overseas reserves of $2.5 billion, and $760 million payments to take over the ‘think big’ debts,” Mr Douglas said. Neither represented an increase in over-all indebtedness.
The build-up in reserves was associated with “think big” debts which had yet to be refinanced, he said. Borrowing increased $5.98 billion to $33.12 billion in the previous quarter to the end of September, 1986.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19870310.2.5
Bibliographic details
Press, 10 March 1987, Page 1
Word Count
131Minister explains debt rise Press, 10 March 1987, Page 1
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in