XN000022-1984-02-01 — Page 6

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WEDNESDAY, FEBRUARY 1, 1984

Participation Scheme recorded further increase, of

3.0% against 5.8% in the third quarter. Over the year

these increased by 29.9%. Loans to the manufacturing

sector fell by 0.2% compared with an increase in the

third quarter of 2.0%; given the impressive

performance of domestic exports, this slow-down

probably indicated an improvement in the cash flow

position of manufacturers. Over the year such loans

showed an increase of 10.2%. Loans to the wholesale

and retail trades rose by 7.8% following an increase

of 15.6% in the third quarter. For the year as a whole

the increase was 29.0%. This possibly reflected the

revival of consumer demand.

Foreign Currency Position

The spot foreign currency position of the

monetary sector showed net foreign currency

liabilities of $14.5 billion at the end of December

compared with $17.8 billion at the end of November,

Banks and deposit-taking companies recorded net spot

foreign currency liabilities of $11.2 billion and $3.3

billion respectively. Statistics collected (on the

basis of slightly different definitions) by the

Commissioner for Banking and Deposit-taking Companies

showed that at the end of December, the monetary

sector had net spot foreign currency liabilities of

$17.0 billion which was more than covered by the net

forward assets of $41.8 billion. In the last quarter,

/these...