The weighted average interest rate on one-month [b]Sertifikat Bank

The weighted average interest rate on one-month Sertifikat Bank
Indonesia notes Wednesday fell slightly from last week, the
central bank said.The one-month SBI notes stood at 17.5 percent
at the weekly auction, down from 17.62 percent from at last
week's auction, Bank Indonesia said.--Dow Jones

Mexico on Tuesday welcomed OPEC's decision to cut oil output and
reaffirmed it would join the effort to bolster world prices by
reducing its own exports by 100,000 barrels per day (bpd) in the
first half of 2002. The energy ministry said in a statement it
was confident the supply cuts by OPEC and major non-OPEC
producers "will achieve a healthy balance between supply and
demand, which will allow a halt in the fall of prices and assure
the necessary investments to maintain a sure and reliable supply
of oil." --Reuters

Pakistan, buried under US$65 billion in foreign and domestic
debt, said on Tuesday it planned to reduce the burden of debt
servicing to 30-35 percent of foreign exchange earnings over the
next three years from 70 percent now. "Our strategy is to reduce
our debt servicing to a normal level of 30-35 percent over the
three year period instead of current 70 percent," The State
(central) Bank of Pakistan (SBP) Governor, Ishrat Husain told
reporters at a news conference. --Reuters

The Philippine government plans to take out more foreign loans
this year to free up the local debt market for domestic
businesses, an official said Wednesday. Budget Secretary Emilia
Boncodin, however, stressed the government does not plan to go on
a borrowing binge and will practice "calibrated borrowing".--DPA

South Korea will pay US$4.5 million to catch 25,000 metric tons
of pollack in Russian waters this year, a 10.2% increase over
last year's fishing fee, officials said Wednesday. Last month,
Russia agreed to allow South Korean fishing boats to catch 22,000
tons of pollack in the Bering Sea and another 3,000 tons in the
North Kuril Sea. That was a 28.6% drop from last year.--AP

Less volatile economic conditions combined with benign inflation
prompted Singapore's central bank to narrow the policy band on
Wednesday that it uses to guide the city-state's currency. The
Monetary Authority of Singapore (MAS) said it is "restoring a
narrower policy band, as market and economic conditions have
become less volatile".--DPA

Hong Kong's economy will continue to be affected by the
deteriorating global economy in the early months of this year,
according to a report released by the Better Hong Kong
Foundation, a private business group. "Given the slowdown in the
global economy and the Sept.11 attacks in the United States, Hong
Kong being an externally driven economic entity is undoubtedly
put in a difficult situation," said George Yuen, chief executive
of the foundation.--Reuters