14 June 2006

The Web
Business Today

Central Bank’s external assets up in May

Receipts from the sale of government’s stake in Maltacom could have possibly boosted the Central Bank’s external assets in May with official data from the Bank’s balance sheet showing assets to the tune of Lm925 million.
External assets stood at Lm854 million during the month of April. The data is to be found in the simplified balance sheet published by the statistics office of the Central Bank.
The Bank’s claims on government have now reached Lm25 million with minor movements registered in the Bank’s fixed and other assets balance.
On the liabilities side, the monetary base has increased as the commercial banks in May deposited more funds with the Central Bank. The amount of currency issued is practically the same as in the previous month as well as that of May last year.
Other deposits held with the Central Bank have also increased to Lm226 million against the Lm152 million registered in the previous month. This heading includes the term deposits held by the commercial banks as well as government’s deposits, which in May were boosted by the proceeds from the sale of a national asset, being the shareholding in Maltacom.
As foreign liabilities decreased, the Bank’s capital reserves and other liabilities have remained practically static compared to April’s figure.
Overall the Central Bank’s balance sheet has improved especially in the balances held in the external reserves. Now more than ever, the technocrats at the institution must exercise their best know how and expertise to work out these external funds and earn more in interest income.

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