KUALA LUMPUR: The country's foreign reserves are stable and able to weather the uncertain global economic challenges, the Dewan Negara was told today.
Deputy Finance Minister Datuk Lee Chee Leong said as of April 14, the country's foreign reserve remained firm at a total of RM432.2 billion or USD95.7 billion.
He said the reserve levels were sufficient to fund 8.2 months of retained imports and 1.1 times of short-term external debt.
"At the international level, this is sufficient if it can fund at least three months of retained imports and 1.0 times of the short-term external debt.
"A stable reserve position has boosted the country's economic resilience and Malaysia's ability to face an uncertain global economy.
"The government and Bank Negara Malaysia will continue to monitor the status of international reserves by taking the necessary steps to ensure reserve levels are sufficient to act as a buffer to fulfill external obligations," he said today.
Lee was replying to a question by Datuk Dr Hou Kok Chung on the country's ideal foreign reserve levels, the current reserve position as well as the active steps taken to achieve the ideal levels.