Bravo for U.S. Temporary Liquidity Swaps with Emerging Markets

November 03, 2008

Last week the U.S. Federal Reserve Board announced that it had provided temporary liquidity swaps of $30 billion each with Brazil, Korea, Mexico, and Singapore, thereby significantly expanding the circle of countries that the Fed works with in this manner. CGD visiting fellow Nora Lustig welcomes the move and explains why it matters.