If external finance is not available, it must run down its reserves.

如果外国资金不可靠，他就必须下调储备。

youdao

Healthy foreign exchange reserves, low inflation, and a small external debt are all strengths that make it unlikely that Malaysia will experience a financial crisis similar to the one in 1997.

健康的外汇储备，低度的通货膨胀，和不多的外债都是强有力的条件使马来西亚应该不会再遭受像1997年那样的经济危机。

youdao

Most large emerging nations have built up foreign-exchange reserves and cut their external debts, which will provide a measure of protection.

新兴国家多数大国已经建立外汇储备，减少外债，这样也不失为保护的一种方法。

youdao

Although many big emerging markets have built up foreign-exchange reserves and cut their external debts, in eastern Europe reserves have been flat, external debts have risen and current- account deficits have grown considerably in the past decade.

ECONOMIST: Globalisation

The improvement in ratings is underpinned by emerging-market governments' strong external balance-sheets (record levels of foreign-exchange reserves and falling external debt ratios).

ECONOMIST: Country risk ratings

In future, Shell will use external experts to verify its reserves annually a practice currently used by Russian and Chinese oil companies to boost their credibility.

ECONOMIST: Another head rolls in the boardroom | The