BIS: CBDCs could solve cross border friction, but interoperability still major challenge
BIS and IMF say that using CBDCs could solve many challenges with cross-border movement of funds, but question whether central banks will work together.
Latest International Monetary Fund News
IMF recommends energy-efficient CBDC that relies on non-PoW networks
IMF examined the environmental impact of blockchain network designs, highlighting that some blockchains have improved the energy efficiency of payments infrastructure while others are inefficient.
Reserve Bank of India deputy gov tells IMF: CBDCs can kill digital currencies
Speaking at a webinar series organized by the IMF, RBI Deputy Governor T. Rabi Sankar stated that the Indian central bank believes CBDCs could kill private digital currencies.
India digital currency consultation paper with IMF and World Bank coming soon
The paper is a result of consultations made both with local digital currency industry key players and international organizations like the IMF and the World Bank.
IMF recommends Bahamas deepen CBDC education campaign
Bahamas' central bank digital currency currently makes up about 0.1% of the country's money supply, prompting the IMF to recommend that the Caribbean country accelerate its CBDC education campaign and expand its capacity.
IMF: BTC adoption by Central African Republic is a concern
The International Monetary Fund says the move raises major legal and economic policy challenges, even as experts, political and economic leaders question the country’s ability to implement BTC payments.
IMF: Russia could evade sanctions by mining BTC
The IMF recently released a report that Russia might have found a way to evade international sanctions stating that block reward mining activities could be used to evade economic boycotts.
Georgia now working towards FATF-compliant digital currency regulations
Georgia’s central bank is working with the IMF on the regulations, which will include registration of VASPs, compliance testing, and AML control requirements.
IMF to bail out Argentina, but only if it discourages digital currency use
The International Monetary Fund will extend Argentina a $45 billion loan deal, which the Senate approved recently, that includes a clause urging the gov’t to discourage digital currencies.
The closing of open society: Part II
In this article, author Dr. Craig Wright highlights the current crisis of the Republic of Mozambique after it gained political independence from Portugal on June 25, 1975.
IMF: Nigeria’s eNaira could be used for terrorism financing, money laundering
The IMF says that eNaira could raise financial inclusion to meet the ambitious target of 95%, but says Nigeria must be vigilant as it poses several risks.
IMF to El Salvador: Remove BTC as legal tender
The IMF says that El Salvador is at a heightened risk with its financial and market integrity, financial stability, and consumer protection, but President Nayib Bukele is unmoved.