Sri Lanka's Cabraal: invest reserves regionally

South Asian central banks should consider investing their foreign-exchange reserves within the region, said Ajith Cabraal, the governor of the Central Bank of Sri Lanka.

Speaking at seminar on foreign-exchange reserve management, Cabraal said that the capital retained in the region could then support the region's development.

Reserves are now used to fund the huge fiscal deficits of several Western countries, or the expansion plans of their large corporations, instead of being utilised for

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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