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IMF Chief Economist Gita Gopinath Doesn't Believe Digital Currencies Can Challenge The Dominance Of The Dollar
Summary: Gita Gopinath, the chief economist of the International Monetary Fund (IMF), stated in an article for the Financial Times that digital currencies will not challenge the dominance of the dollar. Gopinath stated that while Libra’s prospects have faded over the last couple months, major central banks have begun considering if public digital currencies are required ...
Gita Gopinath, the chief economist of the International Monetary Fund (IMF), stated in an article for the Financial Times that digital currencies will not challenge the dominance of the dollar.
Gopinath stated that while Libra’s prospects have faded over the last couple months, major central banks have begun considering if public digital currencies are required to “fill a gap in retail payment needs.”
Some analysts have insisted that the issuance of private or central bank-backed digital currencies may have an elusive impact and ultimately cost the dollar its supremacy in global trade and finance for decades. However, Gopinath asserts that in the near future This is impossible.
Golinpath mentioned that "improvements in payment technology may have reduced the cost of switching from cash payments to digital payments, but there is little evidence that they have done a lot to reduce the cost of inter-currency transfers."
By Roland James
Tags: Cryptocurrency,Gina Golinpath,IMF
Link: IMF Chief Economist Gita Gopinath Doesn't Believe Digital Currencies Can Challenge The Dominance Of The Dollar [Copy]
