RI forex reserves amount to US$51.06 billion

Jakarta, March 1 (ANTARA) - Indonesia`s foreign exchange reserves until February 18, 2009 were recorded at US$51.06 billion, or equivalent to 4.7 month imports and payment of external debts, Made Sukada of the Indonesian central bank, Bank Indonesia (BI), said. 

"Our foreign exchange reserves are relatively strong," he said here over the weekend denying a report that the country`s foreign exchange reserves were falling short that could lead to a liquidity crisis. 

He said that the probability of liquidity crisis is close to zero percent so that there was no need to worry about the capability of the Indonesian central bank in safeguarding the rupiah stability through market intervention. 

"Any time we can conduct market intervention without shortage of funds," he added. 

He said that the foreign exchange reserves were safe even though the country had to face pressure on paying its external debts and financing that of the private sector. 

He said that the country`s external debt installments were still within the safe limit. 

He said that the February foreign exchange reserves were bigger than those in January which stood at US$50.87 billion, or an increase by 190 million. 

But the ratio between the import and external debt payments declined. The foreign exchange reserves which stood at only US$50.87 billion in January were equal to 5.2 month imports and payment of external debts, he said.