DEVELOPING countries’ import cover, measured as the number of months of imports foreign reserves could pay for, has fallen since 2009. According to the latest Global Economic Prospects report by the World Bank, South Asia has seen the biggest decline, of 3.9 months, largely because of weak exports and price pressures from crude oil imports (and gold imports by India). Import cover for oil importers in the Middle East and North Africa has fallen as a result of reduced capital inflows caused by political turmoil and weaker trade with the region’s largest export market, the euro area. Import cover in Europe and Central Asia has also been adversely affected by Europe's economic woes. Over the same period however the average reserve coverage of imports for Latin America and the Caribbean has increased by one month—thanks largely to strong commodity revenues and capital inflows. With only a few exceptions (including Egypt and Pakistan) import cover in the majority of developing countries remains above the recommended three months.