NZ net foreign liabilities as share of GDP have improved but risks remain: RBNZ

Mon, 17 Jul 2017

By Rebecca Howard July 17 (BusinessDesk) - A large improvement in New Zealand’s net foreign liabilities as a share of gross domestic product makes the economy less vulnerable to shocks, but they are still relatively high internationally and the saving and investment behaviour of households remains the key risk, Reserve Bank deputy governor Geoff Bascand says. “New Zealand’s net foreign liabilities (NFL) – what we owe to the rest of the world, broadly speaking – reached nearly 85 percent of GDP at the start of 2009. Eight years later, th...

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