IMF President Made Striking Statements About Central Bank Digital Currencies (CBDCs)

The Managing Director of the IMF emphasized the critical importance of central bank digital currencies (CBDCs) for the public sector, stating that they could serve as a low-cost alternative to facilitate cross-border payments and might replace physical cash in the future.

International Monetary Fund (IMF) Managing Director Kristalina Georgieva, emphasized the importance of the distribution of central bank digital currencies (CBDCs) and related payment platforms for the public sector in a speech at an event. Additionally, Georgieva expressed her belief that CBDCs could replace physical cash and also provide resilience in advanced economies.

“While the adoption of CBDCs may not be very close, about 60% of countries are currently exploring them in some way.”
Kristalina Georgieva

She also noted that CBDCs have the potential to increase financial inclusion, especially in communities lacking sufficient banking support, and could exist as a secure and cost-effective alternative.

“As CBDCs are deployed, they need to be built to facilitate cross-border payments, which are currently expensive, slow, and accessible to very few.”
Kristalina Georgieva

Furthermore, Georgieva highlighted the importance of the technological infrastructure used in CBDC projects, emphasizing the protection of personal data and even discussing the possible role of artificial intelligence in the development of national digital currencies.

Source: Cointelegraph

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