IMF recommends the Bahamas ‘accelerate its education campaigns’ on CBDC

IMF recommends the Bahamas ‘accelerate its education campaigns’ on CBDC


The International Monetary Fund, or IMF, has turned its attention to the Bahamas’ central bank digital currency (CBDC), the Sand Dollar, and suggested additional regulatory oversight and education.

Reporting on a consultation with the Caribbean nation on Monday, the IMF said its executive directors “recognized the potential of the Sand Dollar to foster financial inclusion” and recommended the Central Bank of The Bahamas “accelerate its education campaigns and continue strengthening internal capacity and oversight.” The consultation was somewhat of a departure from several of the IMF’s previous warnings to many countries against the adoption of digital assets — but many of those did not include CBDCs.

The recommendation came following the conclusion of an Article IV consultation in the Bahamas last Wednesday. According to the IMF,

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