Net International Investment Position is the amount New Zealanders owe foreigners and foreigners own of New Zealand assets (eg Contact, Telecom, the banks) minus the reverse. Earthquake insurance made the NIIP better this year. National’s brighter future sees that gain rapidly disappear.
Who owes the money?
Yup. It’s all the mortgages on overpriced houses and farms. The government still has slightly more overseas assets than debt, despite National borrowing $35 billion in two and a half years.
Hey, what do you reckon flogging off the power cos will do for our overseas debt?