Digital currency could play key role in raising remittances: IMF – Express Urdu

To reduce the growing digital divide between rich and poor countries International community should play a role (Photo: File)

Islamabad: IMF chief Kristalina Georgieva has said that digital currency can play an important role in increasing remittances, developing and low-income countries. Remittances are important for economic activity and the lives of millions of people.

He expressed these views while addressing participants at the iLab Spring Meetings Virtual Workshop. He added that in order to reduce the growing digital divide in rich and poor countries, the international community should take steps to ensure that all countries benefit equally from the invention of the digital currency. [19659005HesaidthatinthisregardspecialattentionshouldbepaidtothreeareasfirstlynewtypesofcurrencyorwealthshouldbecrediblesecondlylocaleconomicandfinancialstabilityshouldbesecuredandsuchastrategyshouldbeformulatedSothattheinternationalfinancialsystemcanremainstableandefficient

He said that the Financial Stability Boards, Bank of International Steel Mints, World Bank and other partners should ensure competitive measures in this regard. Will provide full support to minimize the growing digital divide and allow developed countries as well as developing countries to equally benefit from the new inventions of the digital currency.

About admin

Check Also

Decrease in foreign exchange reserves – Express Urdu

KARACHI: The country's foreign exchange reserves fell from 23 23 billion to 22 22 billion …

Leave a Reply

Your email address will not be published. Required fields are marked *