Wednesday, December 1, 2010

Zeti: Malaysia in better position to absorb external volatility

KUALA LUMPUR: The economy is in better position to absorb external volatility compared with 10 years ago, Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz said.

Commenting on the impact of global developments on the domestic economy, she said the tension in South Korea would add volatility to global demand and in turn, may affect exports.

"However, we are in better position to today, and our financial systems are stable," she told reporters on the sidelines of the listing of Islamic Development Bank's US$3.5 billion trust certificate issuance programme on Bursa Malaysia on Wednesday, Dec 1.

Zeti added that the country is still on track to meet its loan growth of 11% to 12% this year, despite the lower loan-to-value ratio for third home financing.

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