Central bank digital currencies can replace cash in island economies and offer resilience in more advanced economies, according to IMF Managing Director Kristalina Georgieva. The public sector should, therefore, continue to prepare for CBDC deployment, she said.
Central bank digital currencies (CBDC) can replace physical money, especially in economies where cash deployment is costly, Managing Director of the International Monetary Fund Kristalina Georgieva said during a Wednesday speech.
CBDCs are digital iterations of sovereign currencies like the U.S. dollar or the euro issued by central banks, potentially utilizing technologies that underlie cryptocurrencies. Governments worldwide see these currencies as something that could support
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