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” World Bank won’t support Central African Republic’s Sango crypto hub “ The World Bank has signalled its concerns over the Central African Republic (CAR) adopting Bitcoin (BTC) as a legal currency and says it won’t support the newly announced “Sango” crypto hub. At the end of April CAR president Faustin-Archange Touadéra established a regulatory…
“# Bukele’s Bitcoin trade raises El Salvador’s sovereign credit risk: Moody’s ” El Salvador’s historic embrace of Bitcoin (BTC) could have negative consequences on the country’s sovereign credit outlook, according to Moody’s Investors Service. Moody’s analyst Jaime Reusche told Bloomberg this week that El Salvador’s Bitcoin gambit “certainly adds to the risk portfolio” of a…
“# El Salvador’s credit rating could take hit amid Bitcoin adoption warns S&P Global ” Credit rating agency Standard and Poor (S&P) Global believes the country of El Salvador has severely harmed its credit rating after enacting its Bitcoin Law recognizing BTC as legal tender nationwide on Sept. 7. According to a Sept. 16 report…
“#Afghanistan on brink of economic and humanitarian collapse” KABUL, Afghanistan — Ever since the Taliban took over Afghanistan’s capital on Aug. 15, the country’s already fragile economy has spiraled into despair. Foreign assistance, which previously propped up the nation of 38 million, was immediately frozen. The US halted $9.4 billion in reserves to the country’s…
“# IMF, World Bank and BIS champion central bank digital currencies at G20 ” In a joint report, the International Monetary Fund (IMF), the World Bank and the Bank of International Settlements (BIS) have proposed to the G20 that a cross-border network of central bank digital currencies (CBDC), underpinned by efficient technological integration and proactive international cooperation,…
“# Singapore’s central bank offers cash prizes for digital currency ideas ” The Monetary Authority of Singapore, the country’s central bank and a major financial regulator, is challenging fintech companies to pitch solutions for a central bank digital currency, or CBDC. On Monday, the central bank officially announced a global challenge that seeks new retail CBDC…
“#Pacific undersea cable project sinks after U.S. warns against Chinese bid” SYDNEY/BEIJING, June 18 – A World Bank-led project declined to award a contract to lay sensitive undersea communications cables after Pacific island governments heeded U.S. warnings that participation of a Chinese company posed a security threat, two sources told Reuters. The former Huawei Marine Networks, now called HMN Technologies and majority owned by Shanghai-listed…
“# World Bank refuses El Salvador’s request for help on BTC transition ” The World Bank has refused El Salvador’s request for help on the country’s transition to adopting Bitcoin as legal tender. It cited issues with Bitcoin’s environmental impact and transparency as reasons why it will not support El Salvador move to adopt Bitcoin…
“#El Salvador to keep dollar as legal tender, seeks World Bank help with bitcoin” El Salvador will not replace the US dollar with bitcoin as the legal tender, Finance Minister Alejandro Zelaya said Wednesday, as the Central American nation sought technical assistance from the World Bank to implement bitcoin regulation. The Central American country this…
“#Debt cancellation needed to help poor countries: World Bank president” BERLIN – The COVID-19 pandemic could trigger a debt crisis in some countries, so investors must be ready for granting some form of relief that could also include debt cancellation, World Bank President David Malpass was quoted as saying on Sunday. “It is evident that…