The IMF is encouraging Bahamanian authorities to educate the public on CBDCs.
The International Monetary Fund, or IMF, has turned its attention to the Bahamas’ central bank digital currency , the Sand Dollar, and suggested additional regulatory oversight and education.its executive directors “recognized the potential of the Sand Dollar to foster financial inclusion” and recommended the Central Bank of The Bahamas “accelerate its education campaigns and continue strengthening internal capacity and oversight.
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 economistsa country “to assess economic and financial developments and discuss the country's economic and financial policies with government and central bank officials.”
In addition to recommending financially educating the public in The Bahamas, the IMF hinted at the importance of “robust supervisory and regulatory framework” for digital assets. During an interview at SALT’s Crypto Bahamas conference in May, The Bahamas Prime Minister Philip Davis told Cointelegraph that the
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