Publication Type
News Article
Version
publishedVersion
Publication Date
5-2011
Abstract
As at the end of last year, our official reserves stood at $288 billion compared to a gross domestic product of $304 billion and bank deposits (domestic bank units or DBU) of $781 billion. In the event of a financial meltdown, the reserves would be far too small to bail out our banks. During the recent global financial crisis I was very anxious for Singapore when the Monetary Authority of Singapore announced a guarantee (until end last year) for all our DBU deposits of up to $150 billion.
Discipline
Asian Studies | Public Economics
Research Areas
Macroeconomics
Publication
Straits Times
ISSN
1692-9344
Publisher
Singapore Press Holdings
Citation
TAN, Augustine H. H..
Dangerous to draw down reserves. (2011). Straits Times.
Available at: https://ink.library.smu.edu.sg/soe_research/1361
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