Perng: Taiwan Unlikely to Face Financial Crisis

 Perng: Taiwan Unlikely to Face Financial Crisis

 Sources: All Taipei newspapers

Jan. 08 2015

Perng Fai-nan (彭淮南), governor of the Central Bank of the Republic of China, said Thursday that it was unlikely that Taiwan would face a financial crisis even though the global financial markets had recently come under heavy downward pressure.

Perng said that Taiwan had sound economic fundamentals, which would help the country weather the on-going financial unease in world markets.

Perng made the above remarks after the weighted index on the Taiwan Stock Exchange plunged 1.73 percent Thursday to close at 7,852.06 points, which was below the 10-year moving average. Moreover, the New Taiwan Dollar fell NT$0.077 to close at NT$33.530 to the US dollar marking the 9th consecutive trading days for the local currency to depreciate against the U.S. dollar, a new low in almost seven years.

 Asked to comment on Mainland China's economic fundamentals, Perng said that he hoped that the Mainland economy would have a soft landing, which would limit the impact on the global economy.

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