IMF paper: High international reserves are not panacea for low-income countries

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An International Monetary Fund paper published on January 12 says that while international reserves help provide low-income countries with a buffer to withstand shocks during the global financial crisis, higher reserve coverage was not a panacea.

Valerio Crispolti and George Tsibouris, the paper's authors, examine whether international reserves in low-income countries acted as sufficient cushion against large external shocks over the past three decades – including the current global crisis

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