World Bank Unveils Landmark 2025 Survey on Global Reserve Management Trends

The publication offers deep insights into institutional governance, investment strategies, risk management frameworks, and capacity development across global reserve managers.

A new World Bank report has provided the most detailed global snapshot to date of how central banks manage their foreign exchange reserves, adapt to shifting financial landscapes, and safeguard economic stability. The 5th Biennial Reserve Management Survey Report 2025, released by the World Bank Treasury’s Reserve Advisory & Management Partnership (RAMP), marks a milestone with participation from 136 central banks, the highest response rate since the survey series began.

The publication offers deep insights into institutional governance, investment strategies, risk management frameworks, and capacity development across global reserve managers. It also highlights emerging trends driven by geopolitical uncertainty, market volatility, technological innovation, and climate-related risks.

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A Global Benchmark for Reserve Management Practices

The biennial survey has become one of the most authoritative reference points for understanding how countries protect and manage foreign exchange reserves—vital resources that ensure financial stability, support currency management, and provide buffers against external shocks.

Jorge Familiar, Vice President and Treasurer of the World Bank, emphasized the survey’s value:

“The 2025 report offers a unique window into how central banks are preparing for the future. The breadth of participation reflects the importance central banks place on peer benchmarking and global knowledge exchange.”

RAMP’s global network of more than 90 public-sector institutions uses the survey results to measure their practices against peers and strengthen infrastructure for governance, transparency, and financial resilience.

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Why Reserve Management Matters

Foreign exchange reserves play a critical role in a country’s ability to:

• Ensure currency stability

• Maintain market confidence

• Respond to external shocks such as commodity price shifts or capital flow volatility

• Support government borrowing programs

• Meet international obligations

As global financial conditions become more unpredictable—shaped by inflation, geopolitical tensions, climate-related disruptions, and technological change—central banks are adapting their reserve strategies to ensure long-term resilience.

“Sound foreign exchange reserves management is a critical aspect of macroeconomic and financial stability,” said Pablo Saavedra, World Bank Vice President for the Prosperity vertical. “Effective management helps countries foster market confidence and enables flexibility to react to external shocks.”

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Key Themes and Insights from the 2025 Survey

The World Bank’s 2025 report presents a rich set of findings spanning a wide range of reserve management issues. Key themes include:

1. Stronger Governance and Institutional Reforms

Many central banks are investing in strengthening decision-making structures, clarifying mandates, and improving operational transparency. Governance reforms have become especially important for emerging and developing economies facing volatile markets.

2. Evolving Investment Strategies

Central banks are gradually diversifying their portfolios, responding to lower global interest rates, currency fluctuations, and the need for liquidity buffers. A growing number of institutions are exploring:

• Short-duration fixed-income strategies

• Sustainable investment frameworks

• Higher-yielding but well-controlled asset classes

3. Rising Interest in ESG and Climate Risk Integration

Climate-related risks are becoming part of reserve managers’ risk assessments. The survey highlights increasing interest in:

• Carbon footprint monitoring

• Climate stress testing

• ESG-aligned reserve assets

4. Digital Transformation and Cybersecurity

As financial systems digitize, central banks are adopting new technologies while strengthening cybersecurity frameworks to protect reserves and maintain operational continuity.

5. Capacity Development and Knowledge Sharing

Demand for technical assistance and peer learning continues to rise. RAMP’s capacity-building initiatives—seminars, workshops, advisory services—are helping central banks enhance skills in risk management, portfolio construction, and financial reporting.

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RAMP’s Expanding Role in Global Financial Resilience

Since its establishment, the Reserve Advisory & Management Partnership has evolved into a key global platform for improving public asset management. Its members—central banks, sovereign wealth funds, and government agencies—benefit from institutional partnerships, technical support, and shared best practices.

The 2025 survey underscores RAMP’s central role in building resilience amid global uncertainty:

• Over 90 institutions engaged

• More than a decade of collaboration

• Growing emphasis on transparency and governance

• Expanding technical and advisory services

The report further supports international discussions on reserve adequacy, monetary policy flexibility, and the financial stability frameworks needed to navigate crises.

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A Tool for Policy Reform and Global Dialogue

The World Bank describes the Reserve Management Survey as an essential tool for policymakers seeking to modernize public financial institutions. The 2025 edition provides a foundation for:

• Cross-country comparison of reserve management practices

• Assessing emerging risks and vulnerabilities

• Identifying opportunities to adopt international best practices

• Strengthening long-term financial resilience

As global economic conditions remain uncertain, the survey’s findings are expected to be widely used by governments, international organizations, and financial institutions.

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Looking Ahead: Strengthening Transparency and Long-Term Stability

The 5th Biennial Reserve Management Survey Report reinforces the importance of resilient public financial management systems. It highlights the critical need for continued investment in capacity building, policy innovation, and regional cooperation.

By offering a comprehensive view of how central banks manage foreign reserves—one of their most vital national assets—the report contributes significantly to global financial stability efforts.

As countries face unprecedented challenges, from climate shocks to shifting global supply chains, effective reserve management will remain a cornerstone of economic resilience and security.