Korea’s Kim calls for an end to currency reserves hoarding

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Bank of Korea governor Choongsoo Kim believes multi-layered financial safety nets in emerging economies are vital to ensuring global financial stability and would help alleviate pressure to build up ever-larger amounts of currency reserves in emerging economies.

Kim said these safety nets should include bilateral currency swaps, regional liquidity arrangements and IMF loans as global liquidity arrangements, during comments at a joint Bank of Korea and Bank for International Settlements

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