MONDAY, JULY 8, 1991
ASKED ABOUT THE PLEDGE LAST FRIDAY, MR. CARSE SAID: "WHAT WB THAT ACTUALLY SAID WAS THAT THE OFFICE OF THE EXCHANGE FUND INDICATED IT WOULD, IF NECESSARY, PLACE FUNDS WITH THE BANK ON NORMAL COMMERCIAL TERMS. NOW THE NEED FOR THAT DID NOT ARISE ON SATURDAY. BUT YOU MUST DISTINGUISH BETWEEN LIQUIDITY SUPPORT AND PROVIDING ADDITIONAL CAPITAL. THE STATEMENT IN THE PRESS RELEASE REFERRED TO THE PROVISION
SUPPORT. OF LIQUIDITY
TO STRESSED THAT IT WAS
BE ON NORMAL NO SENSE HAS THE EXCHANGE FUND GIVEN AN
PROP UP THE BANK.
COMMERCIAL TERMS. IN UNDERTAKING THAT IT WOULD
WE
"
HE ADDED THAT THE PROMISE NO LONGER APPLIED IN THE CURRENT CIRCUMSTANCES SINCE THE BANK IS IN SUSPENSION AND NOT CONDUCTING ANY BUSINESS.
PRICE AND VOLUME MOVEMENTS OF EXTERNAL TRADE IN APRIL
COMPARED RELEASED
THE VOLUME OF DOMESTIC EXPORTS INCREASED BY 4%, WHILE THAT OF RE-EXPORTS GREW BY 25% IN THE FIRST FOUR MONTHS OF 1991 AS WITH THE SAME PERIOD IN 1990, ACCORDING TO THE STATISTICS TODAY (MONDAY) BY THE CENSUS AND STATISTICS DEPARTMENT.
TAKING THEM TOGETHER, THERE WAS AN OVERALL INCREASE OF 17% THE VOLUME OF TOTAL EXPORTS. IMPORTS INCREASED BY 21% IN VOLUME.
IN
THE GROWTH IN THE VOLUME OF TRADE IS DERIVED FROM THE GROWTH IN TRADE VALUES, HAVING DISCOUNTED THE EFFECT OF PRICE CHANGES.
AS REGARDS PRICE CHANGES OVER THE SAME PERIOD OF COMPARISON, THE PRICES OF DOMESTIC EXPORTS AND RE-EXPORTS BOTH ROSE BY 2%, WHILE THOSE OF IMPORTS ROSE BY 3%. AS A RESULT, THE TERMS OF TRADE INDEX (EXPRESSED AS
A RATIO OF TOTAL EXPORT PRICE INDEX TO IMPORT PRICE INDEX) DECREASED BY 1%.
PRICES ARE BASED ON UNIT VALUES WHICH DO NOT TAKE INTO ACCOUNT CHANGES IN THE COMPOSITION OR QUALITY OF GOODS TRADED, EXCEPT FOR SOME SELECTED COMMODITIES FOR WHICH SPECIFICATION PRICE INDEXES ARE AVAILABLE.
COMPARING THE MONTH OF APRIL 1991 WITH APRIL 1990, THE VOLUME OF DOMESTIC EXPORTS INCREASED BY
8%.
WHILE THAT OF RE-EXPORTS INCREASED BY 33%. TAKING THEM TOGETHER, THE VOLUME OF TOTAL EXPORTS INCREASED BY 24%. THE VOLUME OF IMPORTS GREW BY 27%.
OVER THE SAME PERIOD OF COMPARISON, THE PRICES OF DOMESTIC EXPORTS AND RE-EXPORTS ROSE BY 2% AND 1% RESPECTIVELY. INCREASED BY 2%.
IMPORT PRICES
THE CHANGES IN THE VALUE, UNIT VALUE AND VOLUME OF DOMESTIC EXPORTS BY PRINCIPAL COMMODITY GROUP FOR APRIL 1991 AS COMPARED WITH APRIL 1990 ARE SHOWN IN TABLE 1.
/THE VOLUME