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EM central banks can do better than go for gold

Weekly investor research

09 May 2016

Kenneth Rogoff thinks EM central banks should sell US dollars and buy gold instead. The renewed focus on EM central bank reserves diversification is welcome and timely, but EM central banks have better options than to go for gold. They can get better yields, better liquidity, more diversification and help global growth in the process if they start buying each other’s bonds instead. This edition of the Weekly also provides our take on political developments in Turkey and the United States in addition to the usual snippets.

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