Reserve-Bank-says-lower-external-debt-is-encouraging-but-some-risks-remain

Reserve-Bank-says-lower-external-debt-is-encouraging-but-some-risks-remain

A large improvement in New Zealand’s net foreign liabilities as a share of GDP since 2009 makes the economy less vulnerable to shocks, Deputy Governor Geoff Bascand said in a speech today.

“New Zealand’s net foreign liabilities – what we owe to the rest of the world, broadly speaking – reached nearly 85 percent of GDP at the start of 2009 but now they are down to 58.5 percent of GDP, their lowest level since the late-1980s,” Mr Bascand said.