Central Banking

Race against time for fiat currencies – Lagarde

Christine Lagarde

The managing director of the International Monetary Fund has said virtual currencies could “give existing currencies and monetary policy a run for their money” in the future, in a speech delivered on September 29.

Speaking in London at a conference hosted by the Bank of England, Christine Lagarde presented a future scenario where countries with “weak institutions and unstable currencies” might actually embrace digital currencies more directly.

“Instead of adopting the currency of another

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