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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Taiwan c.bank-using reserves on infrastructure risky Reuters - Sunday, March 8 TAIPEI, March 8 - Taiwan's central bank said that tapping its massive foreign exchange reserves to fund billions of dollars in government infrastructure spending could undermine financial stability and stoke inflationary pressures. ADVERTISEMENT "If the bank were to use its forex reserves to boost domestic consumption, the bank would have to pay out Taiwan dollars, which would cause inflation and ... could cause the bank's finances to worsen, endangering domestic financial stability," the central bank said in a statement issued over the weekend. It issued the statement after local media reported the government would use some of its foreign exchange reserves to help fund domestic infrastructure projects designed to stimulate the economy during the global economic downturn. Taiwan had $294 billion in foreign exchange reserves at the end of February, the world's fourth largest behind Japan, China and Russia. The government is aiming to spend T$150.66 billion ($4.3 billion) this year on infrastructure projects as part of a broader plan to pour T$500 billion into the domestic economy over the next four years in public spending. (doug.young@thomsonreuters.com; +886 932-148-590; Reuters Messaging: doug.young.reuters.com@reuters.net)) Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Business Karzai to visit Iran for regional economic summit: reportAFP - 38 minutes ago India mobile market defies gloomAFP - 1 hour 19 minutes ago Japan's Hokuyo bank to seek $1 bln govt funds-NikkeiReuters - 1 hour 39 minutes ago China won't adopt national voucher plan -vice ministerReuters - Sunday, March 8 French state pension fund to buy Japan stocks-NikkeiReuters - Sunday, March 8 Most Popular – Business Viewed Russian media teases Clinton over 'reset' button Zimbabwe PM hurt, wife killed in car crash: party Obama to reverse Bush limits on stem-cell research Ladyboy lizards use transvestite trickery: researchers 651,000 jobs lost as US hits 25-year jobless high View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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