IMF Director Urges Financial Inclusion Through Digitalisation

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IMF Director Promoted Financial Inclusion Via Digitalisation
During the IMF’s seminar in Morocco, IMF Managing Director Kristalina Georgieva emphasised the significance of digitalization in expanding financial inclusion. She cited digital cash transfers in Togo during the pandemic as a prime example of how digital initiatives benefit people and economies. Georgieva calls for comprehensive national strategies for financial inclusion but also warns about the financial stability risks associated with digitalization. The IMF has been actively analysing crypto regulations and proposed a crypto-risk assessment matrix for countries recently. Their Synthesis paper, developed with the BIS, promotes comprehensive crypto oversight over a blanket ban, advocating for cross-border cooperation, governance frameworks, and data access.