Tag Archives: international monetary fund

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The $50 billion aid package offered by IMF is aimed at strengthening weak health institutions in the countries with emerging economies amid the coronavirus outbreak among other things.The IMF $50 billion aid package is intended to fight the coronavirus. This comes as countries are still spinning from the effects of the outbreak. For most of the developing countries, their responses to the epidemic seem to have been hindered by one thing only: money.Sources indicate that the Managing Director...

An imminent discussion of digital currencies native to central banks of diverse countries has been sparked, and Facebook‘s Libra is at the heart and center of it.More than RippleRipple‘s flagship products leading cross-border payments might have been touted in the past as the leading catalyst for sparking conversations and implementation of digital currencies pegged to official national currencies. However, Facebook Libra has now officially taken center stage, eliciting more questions and...

European Central Bank’s head (and former International Monetary Fund’s head) Christine Lagarde said that the stablecoins market is gaining momentum and the officials need to keep up with changes:“My personal conviction is that giving the developments we are seeing, not so much in the bitcoin segment, but in the stablecoins projects. And we only know of one at the moment but there are others, being explored and underway at the moment. We’d better be ahead of the curve if that happens. Because...

Saga Monetary Technologies announced on Tuesday it decided to launch its SGA stablecoin that is pegged to a basket of currencies. The Saga Foundation said it was planning it since the last year to become a long term playing asset. However, it is meant to tailor to pretty much different goals of the crypto space.One is acting as a stablecoin as it is and another, to act as a free-float asset. Ido Sadeh Man, founder and chairman at the organization said the main idea behind the whole project...

It seems that France decided to go rigorous on Facebook’s Libra by entirely blocking the development of it. When Facebook announced their Libra project in June this year, they called it a “global currency and financial infrastructure powered by a version of blockchain – the technology that underpins Bitcoin”.However, a lot of governments were really against even the idea and France was the harshest of them all. French Finance Minister Bruno Le Maire then called out on Libra saying it...