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Tuesday, 06 November 2012 - 13:27
No growth in reserves
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The Central Bank said Gross official reserves stood at 7,053 million dollars by end September 2012, unchanged from end August 2012 with balance of payments supported by borrowings and short term capital which grew 74 percent year-on-year to 5,640.4 million dollars as at end September 2012.

In terms of months of imports, gross official reserves were equivalent to 4.3 months of imports by end September 2012, while total reserves were equivalent to 5.2 months of imports.

The Central Bank said tourism earnings and worker remittances continued to buttress the Balance of Payments during the first nine months of this year.

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