Taiwan likely to remain on U.S. currency watch list: Central Bank

Focus Taiwan
Date: 2017/03/23
By:Chiu Po-sheng and Y.F. Low

Taipei, March 23 (CNA) Central Bank Governor Perng Fai-nan (彭淮南) on Thursday expressed pessimism about the likelihood of Taiwan being removed from the U.S. Department of Treasury’s foreign exchange intervention monitoring list next month.

Of the three criteria adopted by the U.S. Treasury, Taiwan definitively meets one of them as its current account surplus is above 3 percent of gross domestic product (GDP), Perng said when asked about the issue at a news conference held after the bank’s quarterly board meeting.

He said Taiwanese businesses tend to save more money than they invest, which is reflected in the country’s high level of savings.    [FULL  STORY]

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