Central Bank of Nigeria ’s foreign exchange reserves have reached a record high of $38.6 billion, Deputy Governor Obadiah Malaifia said, adding that reserves are equivalent to 20 months of imports.
Brazil’s central bank registered losses of 12.5 billion reais in the first half of 2006, up from losses of 11.6 billion reais during the same period last year, said director Joao Antonio Fleury.
Hungary is making credible steps to cut its high budget deficit said Jean-Claude Juncker, Luxembourg’s prime minister, after meeting his Hungarian counterpart Ferenc Gyurcsany, "The convergence plan they will present… shows that the Hungarian government is determined to take credible and efficient measures to decrease the deficit, that from any point of view is far too high," he said. Hungary will submit its revised euro convergence programme to the European Commission on Friday. The programme aims to cut Hungary's fiscal deficit to 3.2% of GDP in 2009 from 10.1% this year.
The total assets of Bulgaria’s banking system were 36.4 billion lev at the end of July, the Bulgarian National Bank said. This is a 29.4% increase on last year, as deposits from non-financial institutions and other customers rose sharply.