Japan’s account surplus falls

TOKYO. Feb I ; Japan s current account surplus shrank 7.4 per cent from a year earlier lo 3.7 Mllk.iT’ Dollar* tn December but w.r» up from 1.75 billion Dollar. m November. the Finance Ministry said Friday, report* AFP.

For the whole year, the sur plus In the current account which measures trade In both goods and service* as well a* certain financial transactions narrowed 37 4 per cent to 35 8 billion Dollar*, the Ministry «akl.

Tax on Uxi imports in Jakarta

JAKARTA Feb I Indonesia plan* lo Impose lax surcharges on selected Import* to counter -Ik rpd plan* to dump goods by some Asian countries trying lo cut losses due to the Gulf war. Antara news agency saki Thursday reports AFP

The official new* agency quoted Industry Minister Hurtarto as saying the move was aimed at protecting local manufactures from the effects of dumping.

Mr Hartarto named China. South Korea and I long Kong as countries that would likely re sori to dumping In the face of huge export losses as a result ol the war. according to the Antara report.

He did not specify the commodities Or When the plan would he introduced

IMF ready to help Egypt

WASHINGTON. Feb I . The Internationa) Monetary Fund (IMF) assured Egypt on Thursday that II wns ready lo help ihe nation's economy weather the Gulf, conflict. Monetary sources said, report* Rculcr.

However, the IMF slopped short of fully endorsing Cairo's economic reforms until'they arc pul Into effect, the sources sakl.

They said IMF Managing Director Michel Camdessus told a visiting Egyptian dek-ga tlon that he was prepared tp pul the country's economic reform programme to the fund's board for approval once it wd*^ fully unck-rway.

Asia-Pacific bankers to meet in Tokyo

SEOUL. Feb 1 • South Korea's Bank of Korea (BOK) Wednesday confirmed that central banders In Asia-Pacific would meet in Tokyo, but added it did not know whether It would lend to the formation of a regional forum, ns re ported, says AFP

Assistan' Governor Lc< Chan-Kyu. who will attend the meeting scheduled for February 22. said the gathering would be "Informal." with no specified agenda and would be closed to the press.

"This meeting Is for exchanging views among the region's central bankers on mu tual finance and economic re latlons al a time when coun tries grow dependent on each other's economy". Mr. Ixc said In an interview.

Coal trade likely to be doubled

CANBERRA. Feb I The world seaborne steaming coal trade is expected lo double over the next 15 years lo 331 megatonne (MT). with,, Australia supplying 80 MT. ac- J cording to an Australian energy emnomlsl. reports Xinhua.

Geraldine Anthm \ I the Australian Bureau of Agricultural and Resource Economics (ABARE) made the prediction at a meeting closing here Friday.

She said al the meeting, iht ABARE 91 outlook conference. that total Asian seaborne steaming coal imports are expected to rise from a forecast 81 MT In 1990-91 to around 160 MT In 2004-2005. Japan, South Korea, Taiwan and Hong Kong will remain the main Im-jorters.