Ringgit's new role

Article Abstract:

The value of the ringgit, Malaysia's local currency, has increased by about 5% as a result of Bank Negara's discontinuation of its depreciation policy. The depreciation policy was effected in 1987 to attract foreign investments. The ensuing surge of foreign investments in Malaysia, coupled with an increase in imports, contributed to a 9% growth rate from 1989 to 1991. However, a trade deficit amounting to 5.6 billion Malaysian dollars in the first half of 1991, prompted the government to discontinue the depreciation of the ringgit to increase Malaysia's competitiveness.

Economic policy, Malaysia, Money, Valuation

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Deep in debt

Article Abstract:

Trading in the debts of Latin American countries is an excellent opportunity for investors. Latin America's debt situation began to improve in 1989 with implementation of the Brady Plan, named for then US Treasury Sec Nicholas Brady, by which the US ensured that holders of debt would be repaid with zero-coupon US Treasury bonds. US debt thus stood in for Latin debt, in return for which the Latin American countries to agree to economic reforms. Latin American debt instruments will produce double-digit yields if kept to maturity at current levels.

Economic aspects, International aspects, Investments, Latin America, External debt relief, Debt relief

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Hu's handout: Singapore budget has something for everyone

Article Abstract:

Singapore's budget for FY 1993 contains a long-awaited package of tax cuts. Corporate and top personal tax rates would be slashed by 3% while a one-time, 25% rebate on commercial andindustrial property taxes will be offered for one year starting Jul 1993. However, an expected $179 million in lost revenue for the government would be offset by a 3% consumption tax to be implemented in Apr 1994.

Budget, Budgeting, Budgets, Singapore, Tax policy

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