Experts from the International Monetary Fund (IMF) have published a document with recommendations for policymakers and banking institutions on expanding the use of central bank digital currencies (CBDCs). The key proposal is the formation of an internal high-level REDI structure responsible for the design, regulation, education, and deployment of CBDC projects. This strategy aims to increase the efficiency of central banks’ resource utilization when launching CBDCs.
Strategies for Accelerated CBDC Adoption
The IMF emphasizes that successful CBDC implementation depends not only on technical readiness but also on strategic policy. Recommendations include developing personalized communication strategies, early involvement of policymakers in exploring potential legislative measures, and encouraging intermediaries serving CBDC operations with various incentives.
Work on Global Interoperability
In 2023, IMF Director Kristalina Georgieva announced work on an infrastructure concept that would ensure interoperability of settlements in CBDCs from different countries. This underscores the IMF’s global approach to CBDC development and the aspiration to create a unified international system of central bank digital currencies.
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