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BRICS Bank Offers Zimbabwe Escape From IMF Debt Traps, Says Professor

[Oct 17 3:30 AM] A Zimbabwean professor has highlighted the BRICS New Development Bank (NDB) as a crucial alternative to the International Monetary Fund (IMF), offering better financial terms to developing nations. He emphasized the NDB’s role in helping countries…

IMF pressures El Salvador to overhaul Bitcoin regulations

[Oct 3 5:59 PM] According to the International Monetary Fund, El Salvador has an annual GDP growth rate of 3% and roughly $144 million in outstanding loans.

IMF Says CBDCs Could Boost Middle East's Financial Inclusion, Payment Efficiency

[Jun 19 1:21 AM] Central bank digital currencies (CBDCs) may not be essential to achieving intended policy goals, instead addressing underlying constraints and improving other digital payment systems may be a more practical alternative, a survey of 19 central banks…

Bitcoin price hits all-time highs across Argentina, Nigeria and Turkey

[Oct 26, 2023 11:01 PM] The new all-time highs come despite Bitcoin still being down over 50% against its price peak of $69,000 against the U.S. dollar.

IMF Publications’ Report Highlights Growing Risks of Generative AI in Financial Sector

[Sep 12, 2023 10:30 AM] As artificial intelligence (AI) continues its expansion into the finance sector, a new report published on the International Monetary Fund (IMF) Publications web portal cautions about risks associated with the latest AI capabilities in the…

Central Banks Resumed Gold Purchases in June

[Aug 7, 2023 4:30 PM] Central banks ramped up gold purchases in June, according to statistics from the International Monetary Fund (IMF). In this period, central banks added 55 tonnes of gold to their reserves after three months of net selling, with China purchasing the…

Yellen Champions Ukraine Support as ‘Single Best Thing We Can Do for the Global Economy’ Ahead of G20 Summit

[Jul 16, 2023 2:00 PM] Janet Yellen, serving as the 78th U.S. Treasury secretary, emphatically declared on Sunday that bolstering Ukraine represents “the single best thing we can do for the global economy.” Furthermore, Yellen expressed caution regarding the…

IMF Working Paper Urges Tax System Overhaul to Tackle Crypto’s Tax Collection Challenges

[Jul 7, 2023 2:30 AM] A research paper published by the International Monetary Fund (IMF) warns that tax collection is significantly more challenging with cryptocurrency assets, and current tax systems are not designed to handle them. The IMF’s working paper…

What is the International Monetary Fund, and how does it work?

[Jun 30, 2023 8:17 AM] Explore the IMF’s objectives, governance structure and key functions in promoting global financial stability.

Latam Insights — IMF States Latam’s CBDC Interest Rises, Lula Emphasizes Bretton Woods Institutions ‘No Longer Function’

[Jun 25, 2023 7:30 PM] Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, the International Monetary Fund (IMF) reports interest in central bank digital currencies (CBDC) in Latam…

IMF Working on Platform to Support CBDC Cross-Border Interoperability

[Jun 20, 2023 11:30 PM] The International Monetary Fund (IMF) is working to develop a platform that would serve as an interoperability layer for central bank digital currencies (CBDCs), allowing for settlements among different countries. According to statements from IMF…

IMF Advances Global Central Bank Digital Currency Platform For International Transactions

[Jun 20, 2023 6:30 AM] The International Monetary Fund (IMF) is actively developing a global platform for CBDCs to facilitate seamless transactions across borders, announced IMF Managing Director Kristalina Georgieva at a conference in Rabat, Morocco.  Georgieva…

Brazilian President Lula to Act as BRICS Liaison to Help Argentina, Discusses Credit Line in Brazilian Reals

[May 4, 2023 11:30 PM] Brazilian President Luiz Inacio Lula da Silva stated Brazil will serve as a facilitator to try and arrange BRICS bloc assistance for Argentina. Lula stated that the New Development Bank — the BRICS bank — could modify some of its rules to aid…

The Most Intense Consensus Ever Seeks Everyone’s Voice

[Apr 21, 2023 12:56 PM] This year’s CoinDesk Consensus event, which will bring key policy and technical debates to the forefront, is especially important. While the withdrawal of a handful of previously agreed-upon speaking assignments undermines full representation on…

China Ready to Talk Asian Monetary Fund to Cut Dollar Dependence, Malaysia Says

[Apr 5, 2023 8:00 AM] An idea to establish an Asian Monetary Fund has caught the attention of the Chinese leadership, the head of the Malaysian government revealed. The prime minister believes there is no reason for his country, which is hurting from a strong U.S…

Central Banks Continue to Show Strong Demand for Gold in 2023, Says World Gold Council Report

[Mar 5, 2023 4:30 PM] Central banks show continued demand for gold in 2023, as per a recent report from the World Gold Council (WGC), which noted that the world’s central banks accumulated 31 tons of the precious metal in January. Turkey was the largest gold…

El Salvador Considers Opening Second Bitcoin Embassy in Texas to Boost Economic Exchange

[Feb 15, 2023 11:30 AM] On Feb. 14, 2023, Milena Mayorga, the Salvadoran ambassador to the United States, announced that her country is considering opening a second bitcoin embassy in the Lone Star State. Mayorga said that Texas is “our new ally” and the goal…

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…

El Salvador’s ‘limited’ use of Bitcoin prevents forecasted risks, says IMF

[Feb 11, 2023 9:21 PM] The IMF has suggested that El Salvador “reconsider” its plans for Bitcoin, following a recent visit to the country.

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…

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…