IMF Approach to Central Bank Digital Currency Capacity Development
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Central Bank Digital Currencies (CBDCs) are increasingly becoming a topic of interest for the global central banking community. As they may have a significant impact on both domestic and international economic and financial stability, over 40 countries have sought assistance from the International Monetary Fund (IMF) through CBDC capacity development (CD). To this end, the IMF has been facilitating peer learning and developing analytical frameworks to provide tailored advice to member countries. CD missions have been deployed to help country authorities answer fundamental questions about CBDCs, and as more empirical evidence emerges, the IMF CD will evolve to provide increased value-added advice that is better tailored to country circumstances and anchored in empirical and analytical work. The IMF also aims to strengthen synergies with surveillance. This paper outlines a multi-year strategy to address frequently asked questions related to CBDCs and details the process for developi...