1.   In the Phillipines, Indonesia and Thailand, for instance, reserves are comparatively low as a ratio of payment deficits and foreign debt.

2.   Only when China faces a large international payments deficit, Dai said, would the authorities be forced to consider a devaluation.

3.   They will do even more if they broaden their perspectives to include persistent trade and payments deficits that are tolerable now but could presage a serious problem.

4.   Mexico had been running a huge foreign payments deficit, with imports far exceeding export earnings, and the peso was heavily over-valued.

5.   The money will be used to meet the balance of payment deficit caused mainly by massive food purchase from the international market.

6.   This willhelp reduce the balance of payment deficit sooner than expected.

7.   They included measures to cut imports and boost exports and reduce the balance of payment deficit.

8.   A chronic payments deficit forced Mexico to devalue its peso in December.

9.   They involve measures to counter subsidies and tackle any balance of payment deficit that could be inflicted on any member because of the free zone programme.

10.   Just a small structural switch of global savings into assets in euros might expose the US payments deficit, the theory says.