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IMF Says El Salvador Should Avoid Trading Bitcoin Bonds – Here’s Why

[Feb 12, 2023 8:05 AM] The International Monetary Fund (IMF) has warned El Salvador to avoid trading Bitcoin bonds due to the risks it poses for the economy. This latest development comes after increased regulations from the Central American country that promotes the…

IMF Report on El Salvador’s Bitcoin Adoption: Risks Averted, but Transparency Needed

[Feb 12, 2023 3:00 AM] According to a recent mission statement published by the International Monetary Fund (IMF), El Salvador has adopted bitcoin as legal tender and has avoided risks so far. The IMF states that the risks have not materialized due to the limited use of…

Report: Egyptian Lawmakers Hail Parliament’s Endorsement of Pact to Join BRICS Bank

[Feb 3, 2023 3:30 AM] Egyptian lawmakers recently hailed the parliament’s endorsement of a pact that allows the country to join the New Development Bank, a report has said. According to the report, the lawmakers believe joining this BRICS-backed institution will…

IMF Division Chief and Deputy Managing Director Call for Swift Regulatory Action to Avoid Crypto Contagion to Legacy Finance

[Jan 20, 2023 5:30 PM] An International Monetary Fund (IMF) division chief and deputy managing director are calling for more action to be taken in the regulatory aspect to avoid crypto’s ups and downs affecting banks and traditional financial institutions. Nobuyasu…

Davos 2023: WEF Unveils Global Collaboration Village Metaverse Platform

[Jan 19, 2023 5:30 PM] The World Economic Forum (WEF) has announced the rollout of the Global Collaboration Village, its own metaverse platform, for this year. Klaus Schwab, chairman of the WEF, plans to leverage this representation of Davos to allow people and leaders…

Nearly $1 Billion Poured Into Egypt’s Forex Market — Local Currency Now World’s Worst Performing Currency in 2023

[Jan 18, 2023 4:30 PM] The Egyptian central bank recently claimed that its decision to devalue the local currency has been vindicated by foreign investors’ return to the country’s foreign market where they reportedly poured in $925 million in just three days…

Report: Egyptian Pound Reaches New Low Against US Dollar Despite Flexible Exchange Rate Regime

[Jan 16, 2023 12:30 AM] The exchange rate of the Egyptian pound versus the U.S. dollar fell to a new low on Jan. 11 after it tapped 32.14 per greenback. The currency’s latest significant depreciation came just a few months after it adopted a flexible exchange rate…

Report: Morocco Central Bank Governor Says Crypto Draft Law Now ‘Ready’

[Jan 2, 2023 9:30 PM] A Moroccan draft crypto law, which seeks to protect individuals from the risks associated with crypto trading, is ready and will soon be presented to stakeholders, Abdellatif Jouahiri, the governor of Bank Al-Maghrib (BAM), has said. Adoption of…

IMF Warns of Tough Year Ahead for World Economy Citing Slowdown in US, EU, China

[Jan 1, 2022 10:00 PM] The International Monetary Fund (IMF) has warned that 2023 will be a tougher year for most of the world economy because the U.S., EU, and Chinese economies are all slowing down simultaneously. “We expect one-third of the world economy to be…

Dollar Loses to Digital Currencies in 2023, Former Russian President Medvedev Says

[Dec 30, 2022 2:30 AM] Digital fiat currencies will spread next year while the U.S. dollar will be losing its status of global reserve currency, according to Russia’s former head of state. In a string of tweets, Dmitry Medvedev gave his two cents on what the future holds…

Argentina Signs Automatic Tax Data Sharing Agreement With the United States

[Dec 6, 2022 4:30 AM] The government of Argentina has signed a data sharing agreement with the U.S. to enhance the cooperation of the countries in the tax arena. The agreement, which was signed by Sergio Massa, minister of economy of Argentina, and U.S. ambassador Marc…

Structural Adjustment: How The IMF And World Bank Repress Poor Countries And Funnel Their Resources To Rich Ones

[Nov 30, 2022 7:00 AM] The IMF and World Bank do not seek to fix poverty, but only to enrich creditor nations. Could Bitcoin create a better global economic system for the developing world?This is an opinion editorial by Alex Gladstein, chief strategy officer of the…

IMF calls for tighter crypto regulation in Africa as the industry unfolds

[Nov 24, 2022 3:45 PM] FTX's collapse is one of the reasons why countries in the region should adopt regulation, noted the monetary fund.

Nigeria’s Rising Inflation and Foreign Exchange Shortages Fueling Devaluation Speculation — IMF Mission

[Nov 20, 2022 4:30 AM] According to the International Monetary Fund (IMF)’s mission concluding statement, Nigeria’s rising inflation rate as well as the continuing shortage of foreign currency are fueling the naira devaluation speculations. To achieve a…