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Developing countries in Asia should benefit from setting up government-affiliated investment corporations to invest excess reserves in global financial markets, he said in an interview with Kyodo News on Monday. But he said such a move would take time due to their fears of taking risks that may hurt their credibility.

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However, he said things ‘’cannot be done overnight,'’ pointing out that governments and central banks in developing Asia should first take time in their efforts to accumulate expertise on the management of foreign reserves.

posted by Administrator at 11:56 am & filed under Euros |