{"id":61911,"date":"2023-10-18T08:40:07","date_gmt":"2023-10-18T12:40:07","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=61911"},"modified":"2023-10-18T08:40:09","modified_gmt":"2023-10-18T12:40:09","slug":"digitalization-is-necessary-for-financial-inclusion-imf-director","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/digitalization-is-necessary-for-financial-inclusion-imf-director\/","title":{"rendered":"Digitalization is Necessary for Financial Inclusion &#8211; IMF Director"},"content":{"rendered":"\n<p>In her keynote address at the <a href=\"https:\/\/coinscreed.com\/staging\/imf-publishes-working-paper-to-address-crypto-assets-risks.html\" target=\"_blank\" rel=\"noreferrer noopener\">International Monetary Fund<\/a> (IMF) seminar on financial inclusion in Marrakesh, Morocco, IMF Managing Director Kristalina Georgieva stated that digitalization is &#8220;the most important way&#8221; to expand financial inclusion.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"505\" src=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/image-56-1024x505.png\" alt=\"Digitalization is Necessary for Financial Inclusion - IMF Director\" class=\"wp-image-61941\" srcset=\"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/image-56-1024x505.png 1024w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/image-56-300x148.png 300w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/image-56-768x379.png 768w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/image-56-18x9.png 18w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/image-56-750x370.png 750w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/image-56-1140x563.png 1140w, https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/image-56.png 1297w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Digitalization is Necessary for Financial Inclusion &#8211; IMF Director<\/figcaption><\/figure>\n\n\n\n<p>IMF managing director Kristalina Georgieva says digitalization is \u201cthe most important way\u201d to scale up financial inclusion. &#8220;It is digital that moves help to people, investment, and the ability of the economy to accelerate,&#8221; Georgieva said, citing digital cash transfers in the African nation of Togo implemented during the COVID-19 pandemic. <\/p>\n\n\n\n<p>She advocated for comprehensive national strategies for financial inclusion but reminded the audience of the dangers to financial stability that frequently accompany digitalization.<\/p>\n\n\n\n<p>Recently, the IMF has been actively analyzing necessary crypto regulations. It proposed a <a href=\"https:\/\/www.pymnts.com\/cpi_posts\/crypto-regulatory-affairs-imf-proposes-crypto-risk-assessment-matrix\/#:~:text=A%20recent%20working%20paper%20by,within%20the%20digital%20asset%20space.\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">crypto-risk assessment matrix <span class=\"wpil-link-icon\" title=\"Link goes to external site.\" style=\"margin: 0 0 0 5px;\"><svg width=\"24\" height=\"24\" style=\"height:16px; width:16px; fill:#000000; stroke:#000000; display:inline-block;\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:svg=\"http:\/\/www.w3.org\/2000\/svg\"><g id=\"wpil-svg-outbound-7-icon-path\" fill=\"none\" clip-path=\"url(#clip0_31_188)\">\r\n                            <path d=\"M9.16724 14.8891L20.1672 3.88908\" stroke-linecap=\"round\"\/>\r\n                            <path d=\"M13.4497 3.53554L20.5208 3.53554L20.5208 10.6066\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/>\r\n                            <path d=\"M17.5 13.5L17.5 16.26C17.5 17.4179 17.5 17.9968 17.2675 18.4359C17.0799 18.7902 16.7902 19.0799 16.4359 19.2675C15.9968 19.5 15.4179 19.5 14.26 19.5L7.74 19.5C6.58213 19.5 6.0032 19.5 5.56414 19.2675C5.20983 19.0799 4.92007 18.7902 4.73247 18.4359C4.5 17.9968 4.5 17.4179 4.5 16.26L4.5 9.74C4.5 8.58213 4.5 8.0032 4.73247 7.56414C4.92007 7.20983 5.20982 6.92007 5.56414 6.73247C6.0032 6.5 6.58213 6.5 7.74 6.5L11 6.5\" stroke-linecap=\"round\"\/>\r\n                        <\/g>\r\n                        <defs>\r\n                            <clipPath id=\"clip0_31_188\">\r\n                                <rect fill=\"white\" height=\"24\" width=\"24\"\/>\r\n                            <\/clipPath>\r\n                        <\/defs><\/svg><\/span><\/a>(C-RAM) for countries to identify indicators and triggers of potential hazards in the sector on September 29.<\/p>\n\n\n\n<p>In October, the &#8220;G20 Finance Ministers and Central Bank Governors Communique&#8221; unequivocally adopted the IMF's Synthesis paper co-authored with the Bank for International Settlements (BIS).<\/p>\n\n\n\n<p>Instead of a blanket prohibition, the paper advocates for comprehensive oversight of crypto. Recommendations at the highest level include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Cross-border cooperation and information sharing between regulators.<\/li>\n\n\n\n<li>A demand for comprehensive governance and <a href=\"https:\/\/coinscreed.com\/staging\/frameworks-for-digital-assets-receive-approval-from-the-european-council.html\" target=\"_blank\" rel=\"noreferrer noopener\">risk management frameworks <\/a>for crypto companies.<\/li>\n\n\n\n<li>A guarantee of access to pertinent data provided by companies to authorities.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>In her keynote address at the International Monetary Fund (IMF) seminar on financial inclusion in Marrakesh, Morocco, IMF Managing Director Kristalina Georgieva stated that digitalization is &#8220;the most important way&#8221; to expand financial inclusion.\u00a0 IMF managing director Kristalina Georgieva says digitalization is \u201cthe most important way\u201d to scale up financial inclusion. &#8220;It is digital that [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":61941,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[16803,16262,1341,9918],"class_list":["post-61911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-digitalization-2","tag-financial-inclusion","tag-imf","tag-kristalina-georgieva"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/10\/image-56.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/61911","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=61911"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/61911\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/61941"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=61911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=61911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=61911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}