IMF Governor “CBDC Possibility Needs to Consider”

International Monetary Fund IMF chief executive Christine Lagarde spoke at a PinTech festival in Singapore on November 14 (local time), saying, “The international community needs to consider the possibility of a digital currency CBDC issued by the central bank. There is, “he said.

Raghad said there are still cases in which the state issues assets such as tokens that guarantee the government’s support, although he is not entirely convinced of the general concept of cryptography. And the possibility of issuing digital currencies. The reason is that the country might play a role in supplying the currency to the digital economy.

This was the day after the IMF released its report on CBDC. The IMF report presented the strengths and weaknesses of the CBDC as a financial instrument with the IMF’s viewpoint.

Currently, various countries such as Canada and China are conducting the CBDC review. Raghad says the CBDC is likely to achieve public policy goals if these efforts are to be realized. The goal is three things: embracing the financial underprivileged, security and consumer protection, and payment personal information.

Raghad also mentioned the negative aspects of the CBDC. It points out that there are risks to financial soundness, financial stability and innovation. Of course, I stressed the need to respond to changes while addressing these risks. Raghard said the important thing is to face these risks but change the technology and we must change. “It should not be the last leaf that has faded.” For more information, please click here .