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IMF Sees “Critical Role” As World Transitions to Digital Money

“The International Monetary Fund must ramp up its resources as it seeks to “monitor, advise on, and help manage this far-reaching and complex transition” to digital money, according to an IMF paper published on Thursday. Digital money can make payments more accessible, faster and cheaper, the paper said. But to make that happen, policymakers must step up to key challenges: digital cash must be trustworthy, must protect domestic economic and financial stability, and the stability of the international monetary system should remain.”