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What the IMF Can Teach Binance About Crypto Bailouts
12.12.2022
In the aftermath of the FTX fiasco, the world’s largest crypto exchange is rushing to backstop failing firms and protocols. Should it?
Argentina Signs Automatic Tax Data Sharing Agreement With the United States
6.12.2022
The government of Argentina has signed a data sharing agreement with the U.S. to enhance the cooperation of the countries in the tax arena. The agreement, which was signed by Sergio Massa, minister of economy of Argentina, and U.S. ambassador Marc Stanley, will allow the Argentine national...
International Monetary Fund Calls For Increased Regulation of African Crypto Markets, Says ‘Risks From Crypto Assets are Evident’
25.11.2022
The International Monetary Fund (IMF) has called on African countries to opt for more crypto regulations citing the recent collapse of cryptocurrency exchange FTX.
In a November 22 blog, the financial agency, which works to achieve sustainable growth and prosperity for all of its 190 member...
IMF calls for tighter crypto regulation in Africa as the industry unfolds
24.11.2022
FTX's collapse is one of the reasons why countries in the region should adopt regulation, noted the monetary fund
IMF Blog: Better Regulation of Africa’s Growing Crypto Market Urgently Needed
24.11.2022
A well-regulated African cryptocurrency market is needed in order to protect users as well as help countries stop bad actors from using digital assets to circumvent capital controls, the latest post on the IMF blog has said. The blog post reiterated the IMF’s belief that risks to a country...
Nigeria’s Rising Inflation and Foreign Exchange Shortages Fueling Devaluation Speculation — IMF Mission
20.11.2022
According to the International Monetary Fund (IMF)’s mission concluding statement, Nigeria’s rising inflation rate as well as the continuing shortage of foreign currency are fueling the naira devaluation speculations. To achieve a unified naira exchange rate, the global lender said...
Nigerian Currency Gains Versus US Dollar Days After Tapping All-Time Low
10.11.2022
Just a few days after plummeting to its worst exchange rate against the U.S. dollar ever, the Nigerian currency was trading at around 820 units for every dollar on Nov. 8, a report has said. An economist has suggested that the Central Bank of Nigeria’s controversial currency plan is unlikely...
While Official Figures Claim Turkey’s Inflation Rate Is 85%, Third-Party Stats Say It’s Closer to 200%
5.11.2022
Inflation has skyrocketed in Turkey as official figures from the Turkish Statistical Institute (Tüik) show the country’s inflation rate topped 85.5% year-on-year. The inflation rate in Turkey has risen for 17 consecutive months and last month it reached a 24-year high. Turkey’s Interest Rate...
Egyptian Currency Plunges 15% After Cairo Accedes to Key IMF Exchange Rate Condition
28.10.2022
After authorities in Egypt announced the adoption of a more flexible exchange rate regime, the pound exchange rate versus the U.S dollar plunged to 23.09:1, a new low for the currency. Cairo’s apparent devaluation of the Egyptian pound met a key condition set by the International Monetary...
Does the IMF have a vendetta against cryptocurrencies?
27.10.2022
Is the multilateral lending institution throttling useful DLT experiments in the developing world, or is it saving crypto from itself?
Report: Billionaire Says Britain May Be Forced to Seek Bailout From IMF if It Does Not Renegotiate Brexit Deal
25.10.2022
British billionaire investor Guy Hands has reckoned that Britain will become “the sick man of Europe” and may be forced to seek a bailout from the International Monetary Fund (IMF) if it does not renegotiate its Brexit deal. The billionaire insisted the United Kingdom’s current...
Report: Ghanaian Cedi Slides Further Versus the US Dollar to Become World’s Worst-Performing Currency
24.10.2022
As Ghana waits for a financial bailout from the International Monetary Fund (IMF), the country’s currency continued its slide versus the dollar after the respective currencies’ exchange rate slipped to just under C15:$1. Following this latest plunge, the cedi has now depreciated by more...
Eswatini Central Bank Partners With German Firm to Explore CBDC
19.10.2022
Eswatini recently became the latest African country to jump on the central bank digital currency (CBDC) bandwagon after its central bank selected Giesecke Devrient, a Germany-based technology firm, as its partner. An agreement signed by both parties aims to enable them to deepen their...
EU Commissioner Urges US to Create New Crypto Rules — Says ‘We Need to Look at Global Regulation of Crypto’
19.10.2022
The European Commission’s commissioner for financial services has reportedly urged U.S. lawmakers to establish new rules to regulate the crypto industry. “We do need to see other players also legislating … We need to look at global regulation of crypto,” said the commissioner....
India to Discuss Crypto During G20 Presidency to Establish Tech-Driven Regulatory Framework, Says Finance Minister
18.10.2022
India plans to discuss crypto regulations during its G20 presidency with member countries. Finance Minister Nirmala Sitharaman has revealed that the Indian government hopes to arrive at a framework or standard operating procedure (SOP) so that countries globally “can have a technology-driven...
Bitcoin Price and Ethereum Prediction– IMF Promotes CBDC for Financial Inclusion
17.10.2022
On October 17, Bitcoin price is trading slightly higher, above the immediate support level of $19,000. Ethereum, on the other hand, has gained more than 1% to $1,300 so far.
Major cryptocurrencies were trading in the green early during the Asian session, as the global crypto market cap grew...
Argentina Introduces New Exchange Rates to the Mix — ‘Qatar’ and ‘Coldplay’ Dollars Go Against IMF’s Warnings
14.10.2022
The government of Argentina, which is currently applying dollar exchange controls, has added two new dollar exchange rates into its arsenal: the “Qatar” and “Coldplay” dollars. However, Kristalina Georgieva, managing director of the International Monetary Fund (IMF) has made...
IMF’s Georgieva Warns Central Banks to Hoard Reserves, Follow Fed Hikes
13.10.2022
The official's comments might be relevant to bitcoin traders, since the largest cryptocurrency's has proven to be correlated with the dollar's strength in foreign-exchange markets
Salvadoran President Nayib Bukele Takes Aim at Bitcoin Detractors, Says the Ones Who Are Afraid ‘Are the World’s Powerful Elites’
9.10.2022
It’s been over a year since El Salvador codified bitcoin as legal tender in the Latin American country, and by popping the ‘orange pill,’ the country was propelled into the international spotlight. At the end of September, the 41-year-old Salvadoran president Nayib Bukele...
Egyptian Pound Latest African Currency to Slump to Record Low Versus US Dollar
6.10.2022
The Egyptian pound recently became the latest currency from the African continent to see its value versus the greenback slump to a record low. The pound’s fall came amidst reports suggesting the Egyptian government is hoping to strike a loan deal with the International Monetary Fund (IMF)...