Head of the International Monetary Fund, Christine Lagarde, said that central banks should consider issuing state-backed digital currency. The IMF head gave her advice during a speech delivered at the Singapore Fintech Festival.
In the speech, Lagarde addressed the ever-changing nature of currency through the ages, towards the digital cashless model of tomorrow. She went on to consider the role of central banks in this new economic climate. Should the state remain an active player in the issuance of money, or maintain a purely regulatory role?