CBDCs can ‘replace cash,’ IMF says

International Monetary Fund’s managing director Kristalina Georgieva focused on the benefits of central bank digital currencies (CBDCs) in a speech Wednesday.

Speaking at the Singapore Fintech Festival, Georgieva asked policymakers to continue introducing and possibly embracing CBDCs. Her speech echoed a similar one from Christine Lagarde — her predecessor — made five years ago.

“The public sector should keep preparing to deploy CBDCs and related payment platforms in the future,” Georgieva said.

She warned that the world continues to move forward at breakneck speeds with new technologies, citing ChatGPT’s two months to reach 100 million users — something that generally…

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