The International Monetary Fund says the world’s wealthiest countries have more cash reserves than all the rest of the world combined.
The report, based on a study of global financial institutions’ holdings of foreign currency, was published Tuesday by the IMF.
It is based on data collected by Bloomberg, the world leader in financial data, which also provides data on the total amount of money held in banks, and the country with the largest total.
The top three places on the IMF’s list of the wealthiest countries are the United States with $14 trillion, the United Kingdom with $12 trillion and Germany with $10 trillion.
Canada comes in at No. 4, followed by Japan with $8.5 trillion.
Germany, the European Union’s biggest economy, is the second-largest economy and has a combined total of $8 trillion.
The countries with the lowest reserves, the report says, are the Philippines with $2.5 billion, the Democratic Republic of the Congo with $1.8 billion, and Afghanistan with $990 million.
The United States, the largest economy, has the third-largest total.