IMF cautions Marshall Islands on digital currency plans

Majuro, Marshall Islands

The International Monetary Fund has warned the Marshall Islands’ plan to issue a digital currency would pose “significant risks” to financial and macroeconomic stability at present.

In a statement published March 23, IMF official Yong Sarah Zhou said the fund was pleased to see authorities were taking a ‘cautious approach” towards the sovereign (sov)  – a government-issued digital currency.

However, she stressed that the asset – in its current form – posed risks to the stability of the

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