Feb 20, 1998, 12:01 AM
News Code: 9120699
0 Persons
b 7 dlrs around debt short-term india's 7 dlrs around is debt short-term india's -- irna 20, .feb delhi, new 27 dlrs roughly of reserves exchange foreign its against billion .ahluwalia singh montek secretary finance says billion, south-east" on seminar a at speaking reports, media to according mumbai, in ficci by organised ,"response indian the :meltdown asian ahluwalia thursday, on maharashtra, of state indian western of capital asian east the go not can india as concern for cause no was there said .way low the of indicative is debt short-term of level low the said he quite is which funds, currency foreign on reliance india's of degree .countries asian east unlike forcing and borrowing forex on control tight a keeping by" a from india insulated have we long-term, borrow to corporates .said secretary finance the ,"reaction panic possible of cent per 4.1 to 3.1 at low also is deficit account current our" .said he ,"gdp malaysia for cent per 5 indonesia, for cent per 8 against is this .korea for cent per 2-4 and for times difficult predicted also he occasion, the on speaking slowdown general a was there as years, two next the in exports indian .economy world of for just not and everybody for exports in slowdown a be will there" the in deceleration the and slowdown global a be will there .india .said he ,"cent per 5.0 by be to expected is countries oecd growth export an achieve to exporters indian the urged however, he, of gdp than more rate growth a at be would which cent, per 10-12 of .country the against gdp, its of cent per 73 comprised exports malaysian the suit would percent 10-12 of ratio a" .cent per 8 of ratio india's .said he ,"us indian of erosion of fears dispel to attempted also ahluwalia these in depreciation currency to due competitiveness export disruption the on capitalise should exporters indian saying countries, .region the in activities economic of consultation in government, the move, far-reaching a in meanwhile, central the that decided has 's,(rbi) india of bank reserve the with the of cent per 10 of excess in dollars forward sell not will bank .reserves forex exchange manager, general koshi, grace irna, to this informing of objective the that said today here rbi, department, control to is market forward in exposure bank's reserve the restricting .market forex the in stability maintain cross not will operations forward bank's reserve the effect, in are (sdr and gold including) reserves forex the as billion 7.2 dlrs .billion 74.27 dlrs at pegged now aa/hm end