The International Monetary Fund (IMF) aims to prevent underuse of CBDCs and strengthen interoperability.
The increasing use and popularity of stablecoins has led countries’ central banks towards CBDCs. The central bank digital currency (CBDC) plays a key role in creating digital asset trading and digital finance. Support for CBDCs, which are still in their infancy, came from the IMF.
The IMF stated that they are working hard on CBDCs and that they aim to carry out this infrastructure concept in global harmony.
IMF Working Hard for CBDC
Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), attended a conference in Morocco. Georgieva stated that with the platform they plan to create, they aim to eliminate the insufficient use of CBDCs.
Stating that they work hard on CBDCs, Georgieva gave the message that they focus on interoperability and compliance processes. The IMF plans to prevent further economic fragmentation and to bring about a cohesive infrastructure.
With the declining use of cash globally and interest in the crypto side, there has been an increase in the trend towards CBDCs. Many monetary policy institutions are investigating central banks’ digital currencies.
Making statements on the subject, Georgieva stated that they will continue the development and harmonization process of CBDCs together. IMF Managing Director gave hopeful signals about CBDCs going forward.
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