The Novosti agency reported that Switzerland recorded the biggest decline in international reserves between January and October 2022, after “losing” $226.6 billion in monetary terms.

The agency’s calculations, based on the analysis of data from national central banks, indicate that no country in the world has been able to increase its reserves by more than $10 billion during this time.

She added that China occupies the second place in terms of the decrease in international reserves, which lost $211.5 billion in 10 months of last year. Japan, whose reserves fell by $211.2 billion, is third on this list.

As for the international reserves of the Central Bank of Singapore, they decreased by $135.6 billion, while India’s reserves decreased by $102.5 billion.

Russia is sixth on this list with a loss of $83.4 billion, followed by Hong Kong with a loss of $79.7 billion, South Korea (minus $49.1 billion), Thailand (minus $44.1 billion) and the United Kingdom ( minus $44.1 billion, minus $42.9 billion).

Other countries that lost their international reserves in large volumes in 2022 include the Czech Republic (minus $41.7 billion), Brazil (minus $36.7 billion), Israel (minus $24.4 billion) and Germany (minus $23 billion). .9 billion dollars), Italy (minus 23.9 billion dollars). minus $20.8 billion), France (minus $19.2 billion) and the United States (minus $18.7 billion).

In percentage terms, the largest decline in international reserves over the specified period of time was recorded in Sri Lanka (minus 46%) and Pakistan (minus 43%). The value of New Zealand’s assets decreased by 38%, Mongolia – by 36%, Singapore – by 32%, Panama – by 31%, Chile – by 26%, Czech Republic, Greece and Mauritius – by 24%.

As for Switzerland, it lost in percentage terms 20% of its reserves, China – 6%, Japan – 15%, and Russia – 13%.

At the same time, a number of world economies managed to increase their reserves last year, including Saudi Arabia – $7.7 billion, Turkey – $2.3 billion, Qatar – $1.9 billion, South Africa – $1.1 billion .

Source: News

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Robin Jackson is the editor-in-chief at 24PalNews. As an editor and author who covers business and finance, Robin shares the latest business news, trends, and insights with his extensive audience.

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