The IMF’s reserve metric tends to overstate the reserve needs of current account surplus countries with little external debt, and understates the reserve needs of current account deficit countries with lots of external debt.
East Asia (China, Japan, and the NIEs) ran a $600 billion current account surplus in 2017. "Official" (central bank and sovereign fund) outflows accounted for about half of that. Asia's foreign exchange market intervention isn't as overt as it once was, but also hasn't entirely gone away.
The Women Entrepreneurs Finance Initiative, or We-Fi, announced its first funding allocations last week at the World Bank Spring Meetings, dedicating $120 million to programs that support women entrepreneurs in developing countries. We-Fi’s rapid progress and inclusive approach merit increased investment from donors ready to champion women globally.