Series: IMF Working Papers
Author(s): International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 September 2001
Keywords: Reserves, vulnerability, capital flight, exchange rate, currency board, external debt, exchange rates, foreign exchange
This paper analyzes reserve adequacy in emerging market countries. It argues that the old rule of thumb of maintaining reserves equivalent to three months of imports has become obsolete and that, instead, a new ben...