IMF suggested that a digital currency underpinned by blockchain would boost the resources and capacity of the Eastern Caribbean Currency Union (ECCU), a region that comprises St Kitts and Nevis, St Lucia, Anguilla, Antigua, and Barbuda, Dominica, Grenada, and St Vincent and Grenadines.
Cautiously Trialing a CBDC is The Way, IMF Says
On Friday, the International Monetary Fund (IMF) published a Concluding Statement after it visited the ECCU region for a regular mission.
The fund concluded that the Citizenship by Investment (CBI) program was one of the key reasons why the region has recorded a growth in the gross domestic product (GDP) last year.
However, the IMF anticipates the GDP growth to gradually slow to 2.5%. This coincides with a long-term historical average for the ECCU. Also, CBI inflows might also slow. In the short-term,…
Click to continue reading on its source location…