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An International Monetary Fund (IMF) division chief and deputy managing director are calling for more action to be taken in the regulatory aspect to avoid crypto’s ups and downs affecting banks and traditional financial institutions. Nobuyasu Sugimoto, deputy division chief of the financial supervision and regulation division of the IMF, and Bo Li, deputy managing […]Powered by WPeMatico
The World Economic Forum (WEF) has announced the rollout of the Global Collaboration Village, its own metaverse platform, for this year. Klaus Schwab, chairman of the WEF, plans to leverage this representation of Davos to allow people and leaders to meet in virtual worlds and coordinate global collaboration efforts efficiently. WEF to Promote Metaverse-Based Collaboration […]Powered by WPeMatico
The Egyptian central bank recently claimed that its decision to devalue the local currency has been vindicated by foreign investors’ return to the country’s foreign market where they reportedly poured in $925 million in just three days. The surge in the sales of Egyptian treasury bills that mature in a year or less similarly is […]Powered by WPeMatico
The exchange rate of the Egyptian pound versus the U.S. dollar fell to a new low on Jan. 11 after it tapped 32.14 per greenback. The currency’s latest significant depreciation came just a few months after it adopted a flexible exchange rate regime. According to the International Monetary Fund, the monetary authorities in Egypt have […]Powered by WPeMatico
A Moroccan draft crypto law, which seeks to protect individuals from the risks associated with crypto trading, is ready and will soon be presented to stakeholders, Abdellatif Jouahiri, the governor of Bank Al-Maghrib (BAM), has said. Adoption of crypto by Moroccan residents is now inevitable hence a regulatory framework is needed. BAM to Hold Discussions […]Powered by WPeMatico
The International Monetary Fund (IMF) has warned that 2023 will be a tougher year for most of the world economy because the U.S., EU, and Chinese economies are all slowing down simultaneously. “We expect one-third of the world economy to be in recession … Even countries that are not in recession, it would feel like […]Powered by WPeMatico
Digital fiat currencies will spread next year while the U.S. dollar will be losing its status of global reserve currency, according to Russia’s former head of state. In a string of tweets, Dmitry Medvedev gave his two cents on what the future holds for the world, a “humble contribution,” as he put it, to the […]Powered by WPeMatico
The government of Argentina has signed a data sharing agreement with the U.S. to enhance the cooperation of the countries in the tax arena. The agreement, which was signed by Sergio Massa, minister of economy of Argentina, and U.S. ambassador Marc Stanley, will allow the Argentine national tax authority to receive information from accounts and […]Powered by WPeMatico
FTX’s collapse is one of the reasons why countries in the region should adopt regulation, noted the monetary fund.
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According to the International Monetary Fund (IMF)’s mission concluding statement, Nigeria’s rising inflation rate as well as the continuing shortage of foreign currency are fueling the naira devaluation speculations. To achieve a unified naira exchange rate, the global lender said Nigeria needs to dismantle “the various exchange rate windows at the CBN [Central Bank of […]Powered by WPeMatico