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IMF Official Says Public-Private CBDC Offers Best of Both Worlds
28.5.2020
IMF expert says a synthetic CBDC is gaining popularity and will drive more innovation
Private Firms Can Boost Central Bank Digital Currencies, IMF Official Says
26.5.2020
Synthetic CBDCs could let the private sector manage digital currencies backed by central banks, says the IMF's Tommaso Mancini-Griffoli
IMF Predicts Banks Will Struggle at Least 5 More Years After Global Economy Recovers
26.5.2020
The International Monetary Fund (IMF) has predicted that banks will struggle to generate profits at least five years after the global economy recovers from the coronavirus-led economic crisis. The IMF explained that banks were struggling even before the covid-19 pandemic so their troubles...
Blockchain as One of the Goals of Digital Government Strategy in Brazil
17.5.2020
Digital transformation with blockchain technology on a state level
Basket Currency Could Be the Answer to Hyperinflation, Says Founder of Saga
17.5.2020
Hyperinflation is inevitable and a basket currency together with Bitcoin might be the remedy, says founder of Saga
OKEx Executive: Digital Currency as a Basis of Post-Crisis World Order
7.5.2020
The world will not be the same after the COVID-19 pandemic with the necessity for the brand new global monetary system based on crypto
Lebanese Currency Collapse: Failed Policies Led to Economic Meltdown
4.5.2020
Lebanon is facing an unprecedented economic crisis and the local currency has already lost about 60% of its value. The central bank’s policies have come under fire while citizens are protesting how the government handles the economic meltdown which led to people’s living situation...
Libra Has a Flawed Crisis Model, Says Ex-IMF Economist
28.4.2020
Libra's revised whitepaper resembles clearinghouse certificates that the U.S. used to prevent bank runs before the Federal Reserve was created, a former IMF economist says
IMF Predicts Worst Global Crisis Since Great Depression, Costing $9 Trillion
16.4.2020
The International Monetary Fund (IMF) said the world’s current economic crisis is the worst downturn since the Great Depression, and no country is spared. The IMF estimates that the cumulative loss to global GDP from the pandemic could be around 9 trillion dollars. Also read: IMF Declares...
G20 Considers 10 Rules for Regulation of Stablecoins Like Facebook Libra
15.4.2020
The G20 is setting rules to regulate stablecoins such as Facebook’s Libra cryptocurrency. Responding to a call by the G20, the Financial Stability Board (FSB) has provided 10 “high-level” recommendations that establish a regulatory framework for stablecoins. Also read:...
Bitcoin at Risk as IMF Warns of Worst Downturn in 90 years
15.4.2020
The IMF’s prediction of deepening economic recession appears to bode poorly for Bitcoin amid record correlation with the S&P 500
‘The Great Lockdown’: IMF Confirms Global Recession
14.4.2020
IMF: “The Great Lockdown is the worst economic downturn since the Great Depression, and far worse than the Global Financial Crisis [of 2008].”
Bitcoin to Face Stronger Global Recession Than In 2009, IMF Forecast Shows
14.4.2020
The global economy is estimated to drop by 3% this year, before rebounding by 5.8% in 2021, the International Monetary Fund (IMF) said today, stressing that "this crisis is like no other."
In the past 60 years, the global economy decreased only once. In 2009 it slipped by 1.73%.
This...
ECB Expects Worse Recession in Europe Than Global Economy
14.4.2020
The European Central Bank (ECB) expects the European economy to suffer a more severe recession than the global economy. Countries across the euro area will experience “a deep recession,” which entails unprecedented funding needs of more than €1 trillion ($1.1 trillion), explained...
80 Banks Charge Negative Interest Rates as Crisis Deepens in Germany
12.4.2020
Amid the coronavirus pandemic and deepening financial crisis, the number of banks charging customers negative interest rates in Germany has accelerated. At least 80 banks now reportedly charge negative interest rates, 16 of which apply this policy to even small deposits. Also read: IMF Declares...
IMF Deputy Managing Director Tao Zhang on CBDC Benefits and Risks
12.4.2020
Below is a keynote address on central bank digital currency by Tao Zhang, Deputy Managing Director at the International Monetary Fund. London School of Economics, February 28, 2020.
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Tao Zhang. It’s a real pleasure for me to be here for this conference on China’s Trade and Financial...
JPMorgan, Bank of America, Deutsche Bank Predict Major Recession
11.4.2020
Big banks are predicting a major recession, the deepest one in the post-war era. JPMorgan Chase CEO Jamie Dimon said his bank cannot be immune to the resulting financial stress while Bank of America expects the U.S. economy to “collapse” and Deutsche Bank has forecasted a severe global...
Novogratz: We Have Money-Printing Orgy Going on, Amazing Environment to Buy Bitcoin
8.4.2020
Galaxy Digital chairman Michael Novogratz said that bitcoin is his pick under the current financial situation, describing it as an “amazing environment” to buy bitcoin. With “global money printing orgy,” a possible another trillion-dollar stimulus package, and “money...
Virgin Galactic’s Chamath Palihapitiya: Bitcoin Could Go to $1 Million, Everybody Should Own Some
8.4.2020
Virgin Galactic Chairman Chamath Palihapitiya has shared his bitcoin investment strategy, predicting that bitcoin’s price could reach a million dollars. He further suggested that everybody should have 1% of their assets in bitcoin since it is “a fantastic hedge.” Also read:...
2 American Banks Have Failed Since Coronavirus Started Spreading in the US
6.4.2020
Since the coronavirus started spreading in the U.S., two banks have failed and were shut down by state banking authorities. One was a bank in West Virginia and the other was in the state of Nebraska. The governor of West Virginia has already issued a stay-at-home order due to rising covid-19 cases....