The IMF Issues Framework on  CBDCs

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A guide has been released by staff members of the International Monetary Fund (IMF) for policymakers and banking institutions to promote the use of central bank digital currencies (CBDCs) worldwide.

The guide, entitled “Central Bank Digital Currency Adoption Inclusive Strategies for Intermediaries and Users,” was published on Sept. 21.

It outlines strategies for intermediaries and end-users that can be implemented to increase CBDC adoption and introduces the REDI framework, which includes regulations, education, design and deployment, and incentives, as key components in driving adoption.

The staff members believe that the successful uptake of CBDCs will require deliberate policy decisions and designs that accommodate the needs of all stakeholders, making it crucial for central banks to prioritize stakeholder engagement.

The REDI framework is a resource developed by the IMF staff members to assist central banks in promoting the adoption of CBDCs within their respective countries.