Digital Currencies: IMF Seeks to Modernise Payment Systems

The International Monetary Fund (IMF) Managing Director, Kristalina Georgieva, has called for the development of a new public infrastructure to connect various payment systems, including digital currencies.
As more central banks across the world formally adopt digital currencies to function alongside traditional payment system, Georgieva, added that countries need to work together to build new ‘roads, railways, bridges, and tunnels’ — using public digital platforms to connect payment systems.
Georgieva said this in a report on the IMF’s website, themed “Confronting Fragmentation: How to Modernise the International Payment System”.
According to her, the new payment system would help counter the fragmentation of the international monetary system.