IMF facility not as good as own-funds, says Bank of Mexico’s Duclaud

Javier Duclaud at Nalm
Javier Duclaud

Central banks around the world, particularly in developing economies, have stockpiled an estimated $2 trillion in reserves since the advent of the global financial crisis in 2007.

Large reserves can act as a buffer to insulate economies against the worst excesses of volatile markets by deterring attacks from speculators and affording central banks with significant firepower to intervene directly in forex markets. Strong reserves are also a factor behind securing higher sovereign credit ratings

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