The International Monetary Fund (IMF) has announced that it has plans for central bank digital currencies (CBDC), which countries have begun to step up in recent years. IMF Director Kristalina Georgieva a global platform for these currencies He said they were working on it.

At a conference in Morocco, Georgieva stressed the need to work together and for these currencies, which are expected to become widespread in the future, more efficient and fairer transactions and added that they need interconnected systems. In the next, “That is why we at the IMF are working on the concept of a global CBDC platform.” used the sentences.

The platform enables countries to carry out transactions with each other.

Thanks to the platform on which the IMF operates, it is possible to exchange digital currencies between countries. action can be taken there stands that. It also highlights the importance of central banks meeting on a common basis for CBDC. Georgieva adds that they believe the inability to agree on a platform is likely to create a vacuum that will be filled with cryptocurrencies.

Central bank digital currencies, or CBDCs for short, are different from decentralized cryptocurrencies. digital currency controlled by central banks it is called. You can think of them as digital versions of currency. Many countries; CBDCs are preferred for reasons such as lowering costs, speeding up transactions, increasing financial participation and making money transfers cheaper.

Worldwide, according to the IMF 114 central banks Research on CBDCs. It is reported that about 10 of them have completed their studies. In our country, studies on the digital Turkish lira continued. In fact, at the end of 2022, the first transaction was made with the digital Turkish lira.