These guidelines are intended to assist countries in strengthening their policy frameworks for reserve management so that they can become more resilient to shoc

The 2013 revision of the Guidelines was carried out by the IMF staff, supported by a small Working Group of central banks and monetary authorities from China, I

In response to the Global Financial Crisis and the COVID-19 pandemic, central banks have used all available instruments in their monetary policy tool-kit to avo

This book addresses the welfare gains and costs of accumulating foreign exchange reserves and the implications for the functioning of the global financial syste