IMF Believes CBDCs Can Be a Substitute for Cash
Main page News, CBDC, IMF

Kristalina Georgieva, managing director of the IMF, has said central banks will have to act as a company in matters related to CBDCs, which could replace cash.

According to her:

"The public sector should continue to prepare for the introduction of national digital currencies and associated payment platforms."

Georgieva believes that states should "remain open to the possible deployment of a CBDC tomorrow."

Subscribe to our Telegram channel to get weekly short digests about events that shape the crypto world

She has added:

"CBDCs can replace cash which is costly to distribute in island economies. They can offer resilience in more advanced economies. And they can improve financial inclusion where few hold bank accounts."

The IMF head has said that 60% of countries are exploring national digital currencies. She also called on central bank leaders to "think like entrepreneurs."

Read also:
Please describe the error