IMF publishes new reserve management guidelines


The International Monetary Fund (IMF) has updated its Guidelines for Foreign Exchange Reserve Management to encourage reserve managers to diversify their portfolios and to avoid "overreliance" on credit rating agencies.

The guidelines, initially published in 2001 and designed to help governments strengthen their policy frameworks for reserve management, have been updated during the last year to "reflect developments since they were originally introduced".

In one of its additions, the IMF notes t

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