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WELLINGTON Nike Vapormax Flyknit Triple Navy , July 17 (Xinhua) -- A large improvement in New Zealand's net foreign liabilities (NFL) as a share of GDP since 2009 makes the economy less vulnerable to shocks, New Zealand Reserve Bank Deputy Governor Geoff Bascand said in a speech on Monday.

New Zealand's NFL -- what the country owes to the rest of the world -- reached nearly 85 percent of GDP at the start of 2009 but now they are down to 58.5 percent of GDP, their lowest level since the late-1980s, Bascand said.

"New Zealand has become less reliant on offshore funding over the past decade, and the maturity of bank borrowing has lengthened Nike Vapormax Triple Navy , reducing the risks from a potential funding shock," he said, adding that the liquidity policy introduced by the Reserve Bank in 2010 had contributed to this improvement.

The decline in New Zealand's NFL partly reflects low global interest rates that have reduced the interest payments on New Zealand's overseas debt, and high equity prices that have boosted the value of the country's overseas assets, Bascand said.

More significantly Nike Vapormax Flyknit Triple Gold , a better balance between national saving and investment during the current economic expansion has helped contain the current account deficit and lowered the ratio of NFL to GDP, he said.

"Although some of the macroeconomic factors that have driven the improvement in our NFL position are potentially more transient or fortuitous than others, the higher domestic saving and financing of investment augurs well for the durability of the current growth phase," he added.

However, Bascand warned that New Zealand's NFL as a share of GDP is still relatively high internationally Nike Vapormax Triple Gold , especially given the country's exposure to commodity exports that can be subject to large price swings.

Significant uncertainty remains regarding household behavior and the contribution of the sector to New Zealand's saving-investment gap, and the extent that banks as intermediaries might increase their reliance on offshore funding, Bascand said.

"Borrowing from the rest of the world isn't automatically 'bad.' It can be a good thing if it leads to productive investment that enhances our economic performance and leads to high per-capita incomes over time, but debt-fueled consumption is less sustainable," he said.

Much of the investment undertaken by the household sector is in the form of new house builds and renovations to existing homes Nike Vapormax Flyknit Triple White , said the deputy governor, adding that "if housing demands cannot be met by increased household sector or domestic saving more broadly, it will be reflected in a deterioration in our NFL position."

Bascand said that banks have recently begun to compete more aggressively for deposits and tighten lending standards, which should help alleviate offshore funding pressures and prevent a significant increase in NFL.

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ALGIERS Nike Vapormax Triple White , March 18 (Xinhua) -- Algeria has taken a lead as the largest importer of defence equipment in Africa in face of growing regional security threats, an expert says.

"Militarization and arms race between Algeria and Morocco hit alarming stage in recent years, creating thus a climate of uncertainty and challenge in the region," Rachid Tlemcani, a professor of international relations and regional security Nike Vapormax Flyknit Off White , told Xinhua on Tuesday.

According to a report released by the Stockholm International Peace Research Institute (SIPRI), Algeria accounted for 30 percent of the arms imports to Africa and 3 percent of the global arms purchases over the last five years.

There has been a sort of arms rivalry between Algeria and Morocco since the independence of Algeria in 1962, when Morocco attempted to join two Algerian localities to its territory, leading to the outbreak of what is known as "the War of Sands" in the same year.

"Algeria and Morocco want to lure the NATO in order to be perceived as the first military force in the region and secure a key role in the security of the Euro-U.S. security agenda in the Mediterranean and Sahel regions," Tlemcani said.

He added that SIPRI data showed Algeria's arms purchases increased from 716 million U.S. dollars in 1988 to nearly 10 billion in 2013.

The Algerian government allocated 13.1 billion dollars worth of budget to the defense sector in 2015 Nike Vapormax Off White , in addition to 6.95 billion for homeland security, according to the expert.

"Despite huge military spending, terrorism is still existing, while its remnants are seen as an adjuster of political conflicts," Tlemcani said.

NAIROBI Nike Vapormax Flyknit Triple Black , July 11 (Xinhua) -- The pressure that comes with being Kenya team captain will not wear down World Junior 5,000m silver medalist Emmaculate Chepkirui from her ambition to break a world record on home soil.

Chepkirui is aware that her senior Kenya team members will be watching from the stands and as a sign of morale, she wants to send them to the London World Championships in August with a clear message, that of a champion.

At stake is the 10-year-old 3,000m record of 8:53.94 Nike Vapormax Triple Black , set by former World Championships silver medalist Mercy Cherono in Ostrava, Czech Republic.

Cherono has stood out as a pillar of hope to Chepkirui. But with her not making the Kenya team to Landon, Chepkirui is devoted her time to write her own piece of history at the World Under18 Championships, which starts in Nairobi on Wednesday.

"I have always wanted to be like her. Conquer my fears an. NFL Jerseys Cheap   Hockey Jerseys From China   MLB Jerseys From China   Jerseys China   Jerseys Online   MLB Jerseys From China   Adidas NHL Jerseys Cheap   Nike NFL Jerseys Cheap   NFL Jerseys Online   College Hockey Jerseys Cheap 

xiaxue123 · 286 дней назад
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