I cut my teeth in monetary matters at the Regional Programme for Monetary Studies, the precursor of CCMS, as a rapporteur at the first meeting held in Barbados under Mrs. Pat Robinson who was the Research Director at the Central Bank of Trinidad. That was many years ago.
I hope that today, I can add something to the body of knowledge on the subject, more particularly, on considerations surrounding the holding of an adequate level of foreign exchange reserves, as I address the topic “Foreign Exchange Reserves: How much is enough?” I will discuss why countries have varying views on what is adequate, why countries aim to have levels which are more than adequate, and what factors must be considered in arriving at internationally-accepted criteria without having a one-size-fits-all formula, how we can develop such formulae, and whether countries are likely to cease accumulating foreign exchange reserves.