IMF urges caution on CBDCs in Eastern Caribbean
Scope to modernise payments, but central bank must proceed with caution, IMF staff warn
There is scope to modernise payments in the Eastern Caribbean, but policy-makers must proceed with caution in developing a central bank digital currency (CBDC), the International Monetary Fund executive board said.
While the monetary policy implications of a CBDC would be limited due to the region’s fixed exchange rate regime, challenges in financial intermediation, financial integrity and cyber security warrant careful consideration, IMF staff write in the full report.
The Eastern Caribbean
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