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IMF Managing Director Talks About The Four Cornerstones Of The Digital Payment Era
Summary: Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), said at the Singapore Fintech Festival 2020 that the digital future will depend on four cornerstones: private sector innovation, public sector involvement, regulatory and legal frameworks, and international cooperation. At the micro-level, it is necessary to ensure that payments remain safe and flexible while meeting ...
Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), said at the Singapore Fintech Festival 2020 that the digital future will depend on four cornerstones: private sector innovation, public sector involvement, regulatory and legal frameworks, and international cooperation. At the micro-level, it is necessary to ensure that payments remain safe and flexible while meeting user needs. At the macro-level, establishing an efficient, trustworthy, fair and inclusive financial sector and international monetary system is the key point.
Georgieva also mentioned that the private sector can best meet the needs of people and businesses, provide a diversity of products and services, as well as take risks during innovation. But it must be ensured that these risks do not evolve to end-user or financial system risks.
By Mary Liu
Tags: Digital Payment,IMF,Kristalina Georgieva,Private sector,Regulation
Link: IMF Managing Director Talks About The Four Cornerstones Of The Digital Payment Era [Copy]
