EM reserves ‘crucial’ in mitigating Covid-19 outflows, says Mauritius governor

volatility

The build-up of foreign exchange reserves in many emerging economies played a critical role in mitigating the adverse effects of financial stress brought about by Covid-19 lockdowns, according to the governor of the Bank of Mauritius.

“Many emerging markets economies have accumulated large foreign exchange reserves over the years,” Harvesh Seegolam told delegates virtually attending National Asset-Liability Management Asia 2020 on September 14. “These reserves have been a vital cushion against

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