Tagged: imf

AI Adoption Report: Assessing Global Readiness for Artificial Intelligence Indicates Prospects Diverge

The International Monetary Fund (IMF) has released an update titled “Mapping the World’s Readiness for Artificial Intelligence Shows Prospects Diverge.” The IMF noted in a blog post that the new AI Preparedness Index Dashboard “tracks 174 economies based on their digital infrastructure, human capital, labor… Read More

CBDCs: Central Bank Digital Currencies May Boost Middle East’s Financial Inclusion, Payment Efficiency – Report

Central bank digital currencies or CBDCs can boost Middle East’s financial inclusion, payment efficiency, according to a comprehensive update from the IMF. 19 countries in the Middle East and Central Asia are exploring issuing a CBDC, the IMF update noted. Almost two-thirds of countries in… Read More

IMF Board Selects Georgieva for Another Five-Year Term Starting Octobe

The International Monetary Fund (IMF) announced that Bulgarian economist Kristalina Georgieva has been selected to serve a second five-year term as its managing director, beginning October 1. The IMF’s executive board praised Georgieva for her “strong and agile leadership,” which has steered the institution through… Read More

$2 Trillion Private Credit Market May Increase Financial Vulnerabilities Due to Limited Oversight – Report

The private credit market, in which specialized non-bank financial institutions such as investment funds lend to corporate borrowers, “topped $2.1 trillion globally last year in assets and committed capital,” according to an update shared by the International Monetary Fund (IMF). About three-quarters of this was… Read More

IMF Encourages Pacific Island Nations to Explore Digital Money Benefits

Pacific Island nations are poised to harness the digital money revolution to enhance their financial systems, improve financial inclusion, and counteract the decline in correspondent banking relationships, according to research conducted by the International Monetary Fund (IMF). The geographic isolation, small size, and distinct challenges… Read More

AI Expected to Impact 40% of Jobs Globally by Replacing or Complementing Roles – IMF Analysis

AI [artificial intelligence] will affect almost 40 percent of jobs around the world, “replacing some and complementing others.” So that’s why we may “need a careful balance of policies to tap its potential,” according to an update shared by the International Monetary Fund (IMF). In… Read More

Efficient Cross-Border Payment Services have Potential to Improve Lives by Enabling Economic Growth – Report

Faster, cheaper, and more transparent cross-border payment services have “the potential to improve many lives by supporting economic growth, international trade, global development, and financial inclusion.” This, according to an update shared by the International Monetary Fund (IMF). The Group of Twenty has prioritized such… Read More

Central Banks Likely to Keep Interest Rates Higher for Longer in Economies with Elevated Core Inflation – IMF Analysis

Central banks will likely keep interest rates higher for longer in economies with persistently elevated core inflation (excluding food and energy prices), according to an update shared by the International Monetary Fund (IMF). The IMF noted that the high-interest-rate environment, which recently “triggered banking sector… Read More

Latin America Can Enhance Economic Growth by Addressing Issues Related to Crime – IMF Analysis

Crime has long been a “top-of-mind” concern for households across Latin America and the Caribbean, according to an update shared by the International Monetary Fund (IMF). The IMF noted in a blog post that the LatAm region accounts “for nearly half of the world’s intentional… Read More

Financial Crime Negatively Impacts Economies and Must be Better Understood and Curbed – IMF Analysis

Policymakers need a “fuller view” of consequences of illicit flows, including tallies of the fiscal, monetary, financial, and structural costs, according to an update from the IMF. The fight against financial crime isn’t lost, but the world “needs to do more to limit the economic… Read More

Europe’s Wage Rises Now Helping with Recovery but Economies Face Risks – IMF Report

Europe’s economic recovery is getting a much-needed boost from rising wages and higher incomes, according to an update shared by the International Monetary Fund (IMF). But in countries where population aging is “shrinking the workforce, policymakers may soon face new challenges.” The IMF noted in… Read More

IMF and Financial Stability Board (FSB) Release Synthesis Paper Covering Policies for Crypto-Assets

The International Monetary Fund (IMF) and the Financial Stability Board (FSB) have advanced policy and regulatory recommendations “to identify and respond to macroeconomic and financial stability risks associated with crypto-assets.” Crypto-assets have been in existence “for more than a decade and have displayed significant volatility…. Read More

Financial Sector Assessments to Gauge Effects of Elevated Borrowing Costs, Central Banks May Keep Policy Rates Higher for Longer: Report

Financial-sector assessments are gauging the effects of elevated borrowing costs, and the prospect that central banks “may keep policy rates higher for longer than investors expect,” according to an update shared by the International Monetary Fund (IMF). Tobias Adrian, Hiroko Oura from the IMF have… Read More

CBDCs: International Monetary Fund (IMF) Is Reportedly Working on Global Central Bank Digital Currency Initiative

The International Monetary Fund (IMF) is reportedly working on a solution for central bank digital currencies (CDBCs) to support financial transactions between nations, IMF MD Kristalina Georgieva revealed on Monday (June 19, 2023). As reported by Reuters, Georgieva told a conference attended by various reserve… Read More

IMF Expects Global Growth to Drop to 2.8% Before Rising to 3% in 2024

The IMF expects global economic growth to decline by 0.1 than previously anticipated generating 2.8% before rising to 3% in 2024. In 2022, economic growth stood at 3.4% and thus reflects the declining global economy. The expectations were shared as part of the IMF’s World… Read More

Real Value May Come From The Technology: IMF Says Blockchain Can Be Used for Public Good

In a blog post, the International Monetary Fund (IMF) says that the technology backing crypto – IE blockchain or distributed ledger technology (DLT) can be used for good. While describing crypto as being more of a disappointment than a revolution, the IMF goes on to… Read More

Why CBDCs Can Be Bad: IMF Official Says Governments Will Be Able to Control Spending by Consumers

There has been much discussion as to the benefits of Central Bank Digital Currencies (CBDCs). Many developed countries are researching the pros and cons, and China has been testing with consumers a digital yuan for some time now. The flip side to a CBDC is… Read More

Fast-Evolving Fintech Sector Poses Significant Challenge for Regulators: Report

Tech sometimes moves at “a dizzying pace.” When it comes to innovation in financial activities, often referred to as Fintech, the world is “seeing major advances,” according to an update from the IMF. For banks, Fintech “disrupts” core financial services and “pushes them to innovate… Read More

Don’t Do It: IMF Tells El Salvador to Reverse Decision to Adopt Bitcoin as Legal Tender

The International Monetary Fund (IMF) is telling El Salvador not to adopt Bitcoin as legal tender. In a statement by the IMF, the international agency noted that since September 2021, the Salvadoran government has adopted Bitcoin as legal tender. But the IMF believes the adoption… Read More

IMF Worries About El Salvador Adopting Bitcoin as Legal Tender

Recently El Salvador announced its intent to adopt Bitcoin as legal tender in the country. The legions of crypto supporters rapidly embraced the move while detractors grumbled that transacting in Bitcoin is a slow and costly process that makes little sense as a currency for… Read More

Send this to a friend