BNM’s international reserves at RM436.5 bln as at Sept 30, 2020

Malaysia’s international reserves stand at RM436.5 billion or US$ 105 billion as at Sept 30, 2020, and is sufficient to finance 8.4 months of retained imports and 1.1 times total short-term external debt, the Dewan Rakyat was told today. – Bernama file photo

KUALA LUMPUR (Dec 1): Malaysia’s international reserves stand at RM436.5 billion or US$ 105 billion as at Sept 30, 2020, and is sufficient to finance 8.4 months of retained imports and 1.1 times total short-term external debt, the Dewan Rakyat was told today.

Deputy Finance Minister I Datuk Abd Rahim Bakri said the reserves increased US$1.4 billion from US$103.6 billion at end-2019.

“International reserves are used for certain purposes and not to finance budgets or economic stimulus packages following the Covid-19 pandemic.

“The economic stimulus packages were financed mainly through domestic loans from the local financial markets,” he said in response to a question from Pang Hok Liong (PH-Labis) who wanted to know the amount of total national reserves and Bank Negara Malaysia’s (BNM) total international reserves as at September 2020.

The reserves of the country, which also refer to BNM’s international reserves, consist of foreign currency reserves, International Monetary Fund (IMF) reserves position, Special Drawing Rights, gold, and other reserve assets. – Bernama

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