(South Tipperary) asked the Minister for Finance if he will give (a) a list of countries in the sterling area and (b) a list of the countries which have devalued, stating the date and percentages of devaluation in each case; and if he will state the present value and nature of this country's external reserves.
Ceisteanna—Questions. Oral Answers. - Devaluation and External Reserves.
45.
As the reply to the first part of the question is in the form of tabular statements, I propose, with your permission, a Cheann Comhairle, to circulate it with the Official Report.
The present value of the external reserves is £288 million. These reserves consist of the difference between the external assets and the external liabilities of the Associated Banks, the external assets of the Legal Tender Note Fund and those of the General Fund of the Central Bank.
Following are the statements:
(a) The Countries of the Sterling Area.
In addition to the State, Northern Ireland, Great Britain, the Channel Islands and the Isle of Man, the following countries are in the Sterling Area—
Australia and its dependent, including trusteeship, territories.
Barbados.
Botswana.
British colonial possessions (other than Southern Rhodesia).
British protectorates and protected states.
Ceylon.
Cyprus.
Gambia.
Ghana.
Guyana.
Iceland.
India.
Jamaica.
Jordan.
Kenya.
Kuwait.
Lesotho.
Libya.
Malawi.
Malaysia.
Malta.
New Zealand and its dependent territories.
Nigeria.
Pakistan.
People's Republic of South Yemen.
Sierra Leone.
Singapore.
South Africa, the Republic of.
South West Africa, the Territory of.
Trinidad and Tobago.
Uganda.
United Republic of Tanzania.
Western Samoa.
Zambia.
(b) Countries which have devalued.
|
Country |
Date of Devaluation |
Percentage Devaluarion |
|
Barbados |
18 November |
14.3 |
|
Bermuda |
18 November |
14.3 |
|
British Honduras |
18 November |
14.3 |
|
Ceylon |
21 November |
20.0 |
|
Cyprus |
20 November |
14.3 |
|
Denmark |
21 November |
7.9 |
|
Falkland Islands |
18 November |
14.3 |
|
Fiji |
27 November |
9.0 |
|
Gambia |
20 November |
14.3 |
|
Gibralter |
18 November |
14.3 |
|
Great Britain |
18 November |
14.3 |
|
Guyana |
20 November |
14.3 |
|
Hong Kong |
22 November |
5.7 |
|
Iceland |
27 November |
24.6 |
|
Ireland |
18 November |
14.3 |
|
Israel |
19 November |
14.3 |
|
Jamaica |
21 November |
14.3 |
|
Malawi |
20 November |
14.3 |
|
Malta |
20 November |
14.3 |
|
Mauritius |
18 November |
14.3 |
|
New Zealand |
21 November |
19.4 |
|
Seychelles |
18 November |
14.3 |
|
Sierra Leone |
21 November |
14.3 |
|
South Arabia |
18 November |
14.3 |
|
Spain |
20 November |
14.3 |
|
Trinidad and Tobago |
22 November |
14.3 |