IMF warns Marshall Islands on digital projects

Majuro, Marshall Islands
Majuro, Marshall Islands

The International Monetary Fund counselled the Marshall Islands to halt two digital initiatives, saying these posed “financial stability and integrity risks”.

The Pacific-Island nation and former US territory passed legislation for a digital currency, the sov, in 2018, during the presidency of Hilda Heine. More recently, the legislature has considered establishing a Digital Economic Zone (DEZ) on an almost uninhabited island.

According to the law authorising the sov, it is a “digital

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