"The International Monetary Fund (IMF) is working on a platform for central bank digital currencies (CDBCs) to enable transactions between countries," IMF Managing Director Kristalina Georgieva said this week.
"CBDCs should not be fragmented national propositions... To have more efficient and fairer transactions we need systems that connect countries: we need interoperability."
"For this reason at the IMF, we are working on the concept of a global CBDC platform," she said.
"The IMF wants central banks to agree on a common regulatory framework for digital currencies that will allow global interoperability. Failure to agree on a common platform would create a vacuum that would likely be filled by cryptocurrencies," Georgieva was quoted as saying.
"Already 114 central banks are at some stage of CBDC exploration, "with about 10 already crossing the finish line."
"If countries develop CBDCs only for domestic deployment we are underutilizing their capacity," she added.