Countries with Most and Least Gold, Cash Reserves
The coronavirus pandemic, the climate crisis and banking turbulence are only a few of the crises affecting countries around the globe. In an effort to keep their economies afloat and continue importing needed goods, nations have depended on their foreign reserves. At the start of the pandemic, governments used their gold and cash reserves to stay afloat, with countries such as Turkey recording a significant decline in gross foreign-currency reserves. Governments of nations with more reserves, such as the United States, Switzerland and Japan, have a larger safety net in the event of a crisis. Data from the IMF and…
