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	<title>Crikey &#187; overseas borrowings</title>
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		<title>Foreign reserves in freefall as private bank safety valve gets jammed</title>
		<link>http://www.crikey.com.au/2008/01/17/foreign-reserves-in-freefall-as-private-bank-safety-valve-gets-jammed/</link>
		<comments>http://www.crikey.com.au/2008/01/17/foreign-reserves-in-freefall-as-private-bank-safety-valve-gets-jammed/#comments</comments>
		<pubDate>Wed, 16 Jan 2008 14:00:00 +0000</pubDate>
		<dc:creator>Crikey</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[currency volatility]]></category>
		<category><![CDATA[current account deficit]]></category>
		<category><![CDATA[overseas borrowings]]></category>
		<category><![CDATA[reserve assets]]></category>
		<category><![CDATA[taxation measures]]></category>

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		<description><![CDATA[Today's Reserve Bank statistics contain grim news. Since May 2007, Australia's Official Reserve Assets have fallen 64% - down from $84bn to $30bn in December. They now cover a mere eight months of our chronic current account deficit, writes Robert Townsend.]]></description>
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