IMF

IMF Declares Global Recession, 80 Countries Request Help, Trillions of Dollars Needed

</header> <strong>The International Monetary Fund (IMF) has declared that we have entered a global recession — one that is as bad as or worse than the previous global financial crisis. 80 countries have already requested emergency assistance from the IMF. Meanwhile, the G20 has reported fiscal measures totaling some 5 trillion dollars or over 6% …

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IMF Weighs the Pros and Cons of a Central Bank Digital Currency

In a recent keynote speech to the London School of Economics, International Monetary Fund (IMF) Deputy Managing Director, Tao Zhang, briefed the positives and negatives of a central bank digital currency (CBDC). Zhang pointed toward greater efficiency and lower costs associated with a CBDC. “In some countries, the cost of managing cash can be very …

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Disney World Economics: How Coronavirus Could Be Used to Justify a Global Financial Reset

</header> <strong>‘What in the world is going on’ has now become a question of real pertinence, instead of just a cliché for common bewilderment. As COVID-19 panic grips the world, ripple effects are crashing markets and effectively canceling economies across the globe, scrawling the writing on the wall for something big. Even the beloved Walt …

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Central Bank Officials: DLT Can Improve the Global Financial System

On March 7, three monetary and cryptocurrency experts discussed the challenges and prospects of central bank-issued digital currencies at the Massachusetts Institute of Technology (MIT) Bitcoin Expo 2020. The panelists acknowledged that distributed ledger technologies (DLT) could improve the existing global monetary system, however, argued that significant challenges persist regarding the privacy, interoperability, and scalability …

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CBDC Push Takes Ukraine Closer to Crypto Adoption

At a press conference held on Feb. 21, a representative for the National Bank of Ukraine released the results of its much-hyped central bank digital currency project called the e-hryvnia. However, the banking institution is still not certain of the impact this financial offering will have on the country’s overall financial stability as well as …

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Crypto News From Japan: Jan. 13-17 in Review

This week’s news from Japan included additional comments against crypto trading from China, Binance’s potential involvement in Japan, positivity from the International Monetary Fund (IMF), more crypto exits from European Union (EU) regions, and stablecoin positivity from France. Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. China reaffirms …

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Though ‘Intriguing,’ Crypto Won’t Dethrone Dollar, Says IMF Economist

Digital currencies have gained prominence over the last few years, although such options will not budge the U.S. dollar from its seat of prominence, according to chief economist International Monetary Fund (IMF) Gita Gopinath. “Improvements in payment technology may have lowered the cost of switching from cash to digital payments, but there is little evidence …

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Digital Currencies Won’t Replace US Dollar Any Time Soon: IMF Chief Economist

The chief economist at the International Monetary Fund (IMF) has said digital currencies are not about to challenge the U.S. dollar’s pivotal role in global trade. In an op-ed for the Financial Times on Tuesday, Gita Gopinath, who took over as the IMF’s chief economist in January 2019, wrote that although cryptocurrencies represented “intriguing possibilities,” …

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IMF Helping Philippines Become Important Crypto Market

</header> <strong>The International Monetary Fund (IMF) is providing the Philippines with technical assistance regarding crypto assets. The IMF believes the country may become an important crypto market and has provided the Bangko Sentral ng Pilipinas with suggestions for the country’s crypto regulation, including quarterly data collection from approved crypto exchanges.</strong> Also read: Regs Roundup – …

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The Country With Europe’s Highest Interest Rate Has Cut It 5 Times This Year

</header> <strong>Around half of European countries, over 20, now have 0% interest rates and a few are already in negative territory. Ukraine, which has the highest benchmark interest rate on the continent, has just reduced it again, for the fifth time this year. The race between central banks to cut rates, when there is inflation, …

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