By INDERIA SAUNDERS
Guardianâ Business Reporter
inderia@nasguard.com
External reserves declined by$52.4 million during August compared to the year ago period--a drop facilitated by millions of dollars in profit repatriations by commercial banks.
The Central Bank noted in its latest report that external reserves would have been boosted in 2009 by$151 million in special drawing rights(SDRs)that were allocated to the government under the International Monetary Fund's global initiative.
"External reserves declined by$52.4 million vis-a?-vis a$90.2 million expansion a year ago,"said the release."Both liquidity and external reserves declined, owing to net foreign currency outflows ...

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