{"id":444342,"date":"2022-05-09T22:45:00","date_gmt":"2022-05-09T19:45:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/imf-recommends-the-bahamas-accelerate-its-education-campaigns-on-cbdc\/"},"modified":"2022-05-09T22:45:00","modified_gmt":"2022-05-09T19:45:00","slug":"imf-recommends-the-bahamas-accelerate-its-education-campaigns-on-cbdc","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/imf-recommends-the-bahamas-accelerate-its-education-campaigns-on-cbdc\/","title":{"rendered":"# IMF recommends the Bahamas \u2018accelerate its education campaigns\u2019 on CBDC"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35fc978d54c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35fc978d54c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/imf-recommends-the-bahamas-accelerate-its-education-campaigns-on-cbdc\/#%E2%80%9D_IMF_recommends_the_Bahamas_%E2%80%98accelerate_its_education_campaigns_on_CBDC_%E2%80%9C\" >&#8221; IMF recommends the Bahamas \u2018accelerate its education campaigns\u2019 on CBDC &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_IMF_recommends_the_Bahamas_%E2%80%98accelerate_its_education_campaigns_on_CBDC_%E2%80%9C\"><\/span>&#8221; IMF recommends the Bahamas \u2018accelerate its education campaigns\u2019 on CBDC &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvMWMyMzcxNjAtYjFjOS00ZGY4LTg1NTAtZDYwNjYwY2Y0YmEwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>The International Monetary Fund, or IMF, has turned its attention to the Bahamas\u2019 central bank digital currency (CBDC), the Sand Dollar, and suggested additional regulatory oversight and education.<\/p>\n<p>Reporting on a consultation with the Caribbean nation on Monday, the IMF <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.imf.org\/en\/News\/Articles\/2022\/05\/09\/pr22141-the-bahamas-imf-executive-board-concludes-2022-article-iv-consultation-with-the-bahamas\">said<\/a> its executive directors \u201crecognized the potential of the Sand Dollar to foster financial inclusion\u201d and recommended the Central Bank of The Bahamas \u201caccelerate its education campaigns and continue strengthening internal capacity and oversight.\u201d The consultation was somewhat of a departure from several of the IMF\u2019s previous warnings to many countries against the adoption of digital assets \u2014 but many of those did not include CBDCs. <\/p>\n<p>The recommendation came following the conclusion of an Article IV consultation in the Bahamas last Wednesday. According to the IMF, during such a consultation, a team of economists <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.imf.org\/external\/about\/econsurv.htm\">visits<\/a> a country \u201cto assess economic and financial developments and discuss the country&#8217;s economic and financial policies with government and central bank officials.\u201d<\/p>\n<p>In addition to recommending financially educating the public in The Bahamas, the IMF hinted at the importance of \u201crobust supervisory and regulatory framework\u201d for digital assets. During an interview at SALT\u2019s Crypto Bahamas conference in May, The Bahamas Prime Minister Philip Davis told Cointelegraph that the region has a regulatory regime in place that will enable crypto businesses to operate within its jurisdiction. Davis\u2019 office also said in April the government would \u201cenable payment of taxes using digital assets\u201d by working with the central bank as well as the private sector.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">It was an honor to interview the Prime Minister of the Bahamas for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Cointelegraph?ref_src=twsrc%5Etfw\">@Cointelegraph<\/a> at <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoBahamas?ref_src=twsrc%5Etfw\">@CryptoBahamas<\/a> stay tuned for our coverage!  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/CryptoBahamas?src=hash&amp;ref_src=twsrc%5Etfw\">#CryptoBahamas<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/67EtQgRQeT\">pic.twitter.com\/67EtQgRQeT<\/a><\/p>\n<p>\u2014 Rachel Wolfson (@Rachelwolf00) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Rachelwolf00\/status\/1519383251546259457?ref_src=twsrc%5Etfw\">April 27, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<strong><em>Related: <\/em><\/strong><strong><em>IMF urges El Salvador to remove Bitcoin&#8217;s status as legal tender<\/em><\/strong><\/p>\n<p>To date, The Bahamas and Nigeria are the only two countries to have officially launched CBDCs, but other nations including China have been piloting digital currencies. On Friday, the Bank for International Settlements Monetary and Economic Department said a survey of 81 central banks conducted in 2021 suggested 90% were \u201cengaged in some form of CBDC work,\u201d and more than 60% were \u201clikely to or might possibly issue a retail CBDC in either the short or medium term.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/imf-recommends-the-bahamas-accelerate-its-education-campaigns-on-cbdc\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; IMF recommends the Bahamas \u2018accelerate its education campaigns\u2019 on CBDC &#8220; The International Monetary Fund, or IMF, has turned its attention to the Bahamas\u2019 central bank digital currency (CBDC), the Sand Dollar, and suggested additional regulatory oversight and education. Reporting on a consultation with the Caribbean nation on Monday, the IMF said its executive&#8230;<\/p>\n","protected":false},"author":1,"featured_media":444343,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvMWMyMzcxNjAtYjFjOS00ZGY4LTg1NTAtZDYwNjYwY2Y0YmEwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75046,45636,10574,70934],"class_list":["post-444342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cbdc","tag-caribbean","tag-education","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/444342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=444342"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/444342\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/444343"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=444342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=444342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=444342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}