Bank of America said the main emerging economies have consumed $ 240 billion in foreign exchange reserves over the past two months as central banks have sought to support their currencies and economies in the face of the Corona virus pandemic. . According to Reuters, the bank added in a note, citing data on reserves in 31 countries, that this depletion is likely to continue, but at a slower pace. The bank said that China, Hong Kong, Saudi Arabia, Brazil and Turkey experienced the largest total decline in reserves. He added that Turkey and Egypt in particular recorded significant decreases in percentage terms. "The bleeding reserves are likely to continue, although it will be slower, during what appears to be a disappointing recovery for growth," said David Honer, Bank of America economist at the memo. Global growth in emerging markets.
