IMF Working Hard on Global CBDC Platform Concept, Georgieva Says

The International Monetary Fund is “working hard” on a concept of a global infrastructure that would ensure interoperability of settlements between digital currencies issued by national central banks.

Such platform would avoid an underutilization of so-called CBDCs, Managing Director Kristalina Georgieva told a conference in Rabat, Morocco.

“We are working on a principle of interoperability,” she said. Such concept would involve a shared infrastructure that would avoid the emergence of “settlement blocks,” which is the “last thing we want” to avoid further economic fragmentation, Georgieva said.

Driven by a declining use of cash and a rising interest in crypto assets, ...