Cryptocurrency Analysis and News Portal
The Reserve Bank of Zimbabwe has sold 14 billion Zimbabwe Dollars’ worth of gold-backed digital tokens worth around $39 million despite a warning from the International Monetary Fund.On May 12, the central bank of Zimbabwe announced that it had received 135 applications valued at ZW$14.07 billion to buy the gold-backed
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The International Monetary Fund (IMF) has warned of “very serious repercussions” to both the U.S. and the global economy if the U.S. defaults on its debt obligations, which could be as soon as June 1. “We are calling on all of the parties to come together, reach consensus, and resolve
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The International Monetary Fund has urged Zimbabwean authorities to weigh the benefits versus risks of issuing a gold-backed digital currency. Instead of using gold-backed digital currency to limit the demand for the greenback, the global lender said monetary authorities should consider liberalizing the foreign exchange market. Risks to Macroeconomic and
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Nigerian human rights activist and lawyer, Femi Falana, has accused the International Monetary Fund (IMF) and the World Bank (WB) of sabotaging the currency swap arrangement between China and Nigeria. Falana said the Nigerian central bank and the two global financial institutions are helping to perpetuate “the dominance of the
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International Monetary Fund (IMF) Managing Director Kristalina Georgieva expects “more vulnerabilities” in the U.S. banking sector amid a growing de-dollarization trend worldwide. “There has been a gradual shift away from the dollar,” the IMF chief acknowledged. U.S. Banking Crisis Continues The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, talked
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A myriad of unforeseeable “consequences” will be brought about by retail central bank digital currencies (CBDCs), the managing director of the International Monetary Fund (IMF) claimed.The IMF's Kristalina Georgieva erred on the side of caution regarding retail CBDCs in a May 1 interview at the Milken Institute’s 2023 Global Conference.Georgieva
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Countries from the Sub-Saharan Africa (SSA) region face a “big funding squeeze” which is forcing some of them to cut spending on health, education, and infrastructure. According to Abebe Aemro Selassie, people from the region are already “feeling the effects of the funding crisis.” The IMF says countries from
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With interest in central bank digital currencies (CBDCs) at an “unprecedented” level, the International Monetary Fund (IMF) is experiencing heavy demand for guidance in regard to them. In response, the IMF planned to release a CBDC handbook, deputy managing director Bo Li said in a recent speech.The IMF official saw
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The International Monetary Fund’s (IMF) economic counselor has warned of the side effects of sharp monetary tightening. Noting that “Inflation is much stickier than anticipated,” he stressed that “financial risks have risen.” IMF Economist’s Warning Pierre-Olivier Gourinchas, Economic Counsellor and the Director of Research of the International Monetary Fund (IMF), shared his
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The International Monetary Fund, or IMF, has pointed to the collapse of FTX as well as “turmoil” in the banking sector in its calls for regulation of digital assets.In its Global Financial Stability Report released on April 11, the IMF renewed calls for “comprehensive and consistent regulation and adequate supervision”
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