{"id":78211,"date":"2023-05-03T12:32:31","date_gmt":"2023-05-03T09:32:31","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78211"},"modified":"2025-09-11T03:44:32","modified_gmt":"2025-09-11T00:44:32","slug":"imf-chief-kristalina-georgieva-warns-of-negative-consequences-of-retail-cbdcs","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/imf-chief-kristalina-georgieva-warns-of-negative-consequences-of-retail-cbdcs\/","title":{"rendered":"IMF chief Kristalina Georgieva warns of &#8216;negative consequences&#8217; of retail CBDCs"},"content":{"rendered":"<p>The launch of retail central bank digital currencies (<a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-central-bank-digital-currency-cbdc\">CBDC<\/a>) would lead to \u201ca multitude of unintended consequences,\u201d said Kristalina Georgieva, the IMF&#8217;s managing director.<\/p>\n<p>Wholesale CBDCs are less prone to potential mistakes, Georgieva said.<\/p>\n<ul class=\\\"wp-block-list\\\">\n<li>Wholesale CBDCs are central bank digital currencies issued for use by financial institutions to hold deposits;<\/li>\n<\/ul>\n<ul class=\\\"wp-block-list\\\">\n<li>Retail CBDCs are the same technology designed for consumers as well as small and medium-sized enterprises.<\/li>\n<\/ul>\n<p>According to the statement, the IMF is working with roughly 50 countries to \u201censure the adoption of best practices,\u201d which the agency expects will have a significant impact on banks and the economy.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u201cEven in the United States, where [CBDC] had attracted little attention, interest in the technology is now emerging, and there is a strong case for it. The future has arrived,\u201d Georgieva said.<\/p>\n<\/blockquote>\n<p>In February, the IMF <a href=\"https:\/\/forklog.com\/en\/news\/imf-backs-regulating-cryptocurrencies-rather-than-banning-them\">advocated<\/a> regulating digital assets rather than banning them. However, the agency did not rule out possible restrictions if higher risks to financial stability arise.<\/p>\n<p>In March, the IMF <a href=\"https:\/\/forklog.com\/en\/news\/imf-warns-of-negative-impact-of-cryptocurrencies-on-banks\">warned<\/a> about the negative impact of cryptocurrencies on financial institutions. The fund believes that the spread of digital assets could lead to a loss of bank deposits and a reduction in lending.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IMF managing director Kristalina Georgieva said that the launch of retail central bank digital currencies (CBDCs) would lead to &#8216;a multitude of unintended consequences&#8217;.<\/p>\n","protected":false},"author":1,"featured_media":78212,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1095,204,1138],"class_list":["post-78211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cbdc","tag-imf","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"9","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=78211"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78211\/revisions"}],"predecessor-version":[{"id":78213,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/78211\/revisions\/78213"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/78212"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=78211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=78211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=78211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}