We look at all these as healthy developments that support economic growth and resilience. In the meantime, we stay calm as the country’s gross international reserves (GIR) remained ample as of end-September 2017 at $ billion. This is more than enough to cover 8.5 months of imports of goods and services and 5.5 times the country’s short-term debt obligations.
What about prospects for net repayments of debt? Business credit rose rapidly during the boom, although in a more disciplined way than during the property and equity boom of the mid-late 1980s.