9 Feb 2009

Overseas investors briefed on NZ economy

5:23 am on 9 February 2009

Officials from the Reserve Bank and Treasury have returned from a trip to world financial centres aimed at encouraging overseas lenders to continue doing business with New Zealand.

Investors in Hong Kong, London and New York were briefed on the New Zealand economy and Government deposit guarantees which were announced last year.

Treasury Secretary John Whitehead says he thinks overseas lenders were encouraged to keep doing business with New Zealand.

He says banks' access to liquidity is crucial to improving the economy and the briefings should help pave the way when New Zealand banks seek funding internationally.

Mr Whitehead says there is a strong sense overseas that the troubled economic times will continue for some time.

He says further trips may have to be made in another six months.