CBDCs Good for Payments, Even With Competition: IMF

CBDCs Good for Payments, Even With Competition: IMF

A well-designed central bank digital currency can improve payment systems even as other solutions proliferate, according to staff at the International Monetary Fund (IMF) who are getting ready to publish a handbook on the subject.

A paper presenting initial findings on CBDCs to the IMF’s executive board published Tuesday said it offers “initial guidance” to policymakers on how to explore broader implications of national digital currencies. The planned handbook coming after the 2023 annual meetings will address a range of frequently asked questions covering everything from policy objectives and legal considerations to cyber resilience and readiness to issue.

Governments around the world are feeling pressure from international organizations

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