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Tag Archives: fintech

Trade and Remittances Within Africa

By Francisco Arizala, Matthieu Bellon, Margaux MacDonald, Montfort Mlachila, and Mustafa Y. Yenice August 1, 2018  Versions in Français, Português Countries in sub-Saharan Africa are more closely tied than ever, thanks to rising trade with one another and remittances (photo: AfricaImages/Getty Images by iStock) Contrary to popular belief, countries in sub-Saharan Africa are more closely tied than ever, thanks to rising trade with one another and remittances—the money people send home...

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Failed monetary technology

Archaic and ignored monetary technologies can be very interesting, especially when they teach us about newer attempts to update our monetary system. I recently stumbled on a neat monetary innovation from the bimetallic debate of the late 1800s, Nicholas Veeder's Republic of Eutopia coin: During the bimetallic debates of the late 1800s, one of the more interesting compromises put forward was Nicolas Veeder's cometallic standard. His model 'Republic of Eutopia' coins (1866) had a plug with...

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Trust and the Future of Multilateralism

By David Lipton May 10, 2018    عربي    中文   Español   日本語   Русский  Where trust exists and is reciprocated—where there is “confidence” in policies, institutions and systems—economies will achieve more (photo: iStock by Getty Images). We live in an era of doubts and questions about the global order.  We have seen an erosion of trust in bedrock institutions—political parties, national governments, regional authorities, and among international trade and investment partners. We often...

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Addressing the Dark Side of the Crypto World

By Christine Lagarde March 13, 2018 Versions in  عربي (Arabic),  中文 (Chinese), Français (French), 日本語 (Japanese), Português (Portuguese), Русский (Russian) The same reason crypto-assets like Bitcoin are so appealing is also what makes them dangerous (iStock by GettyImages). Whether Bitcoin’s value goes up or Bitcoin’s value goes down, people around the world are asking the same question: What exactly is the potential of crypto-assets? The technology behind these assets—including...

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Fintech Quiz: How Much Do You Know?

By IMFBlog March 12, 2018 Rapid advances in digital technology are transforming the financial services landscape (iStock by Getty Images). From artificial intelligence to cryptography, rapid advances in digital technology are transforming the financial services landscape, creating opportunities and challenges for consumers, service providers, and regulators alike. This new wave of technology is often called “fintech” and the industry is thriving. Consumers worldwide are using two or...

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South Africa’s Lesetja Kganyago: Fintech Is a Central Banker’s Friend

By IMFBlog January 26, 2018  Lesetja Kganyago, South Africa’s Central Bank Governor and Chairman of the International Monetary and Financial Committee (photo: IMF staff). While central bankers are often seen as somewhat traditionalist, South Africa’s Reserve Bank Governor Lesetja Kganyago is breaking that mold. Kganyago sees how new technology—or fintech—is transforming the financial sector, and in this podcast, he says there is no turning back. “Banks will never be the same,” says...

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Time to Act Now: It’s All About the Right Policy Mix

By IMFBlog (photo: flyparade/iStock) "The road ahead is not an easy one,’’ the IMF’s Executive Directors wrote after the IMF’s first ever Annual meeting in 1946.’’ We do not underestimate the difficulties facing us.’’ More than 70 years later, we’ve encountered many a storm across continents from the Latin American sovereign debt crisis to the Savings and Loans crisis to the Asian crisis. And then there was the global financial crisis of 2008. Nine years later, the outlook is finally...

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The siren call of T+0, or real-time settlement

The NYSE's clearinghouse in 1898, six years after its founding Traditional financial systems often get mocked for being slow. In North America, for instance, securities markets have recently switched from T+3 to T+2 settlement. Before, if you sold a stock the cash would only appear in your account three days after the trade—now settlement been moved to a blazing fast two days. In an age where mail is transmitted in milliseconds, this delay seems terribly old fashioned. Or take automatic...

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Global Cooperation—An Uphill Battle: Finance & Development magazine

By Camilla Lund Andersen August 30, 2017 As access to information burgeons, experts are more crucial than ever This issue of F&D looks at what is arguably the clearest challenge the world faces: how to address complex global problems amid growing skepticism about the benefits of multilateralism and continued global integration. Ten years after the global financial crisis, voter dissatisfaction with rising inequality and lack of meaningful jobs has led some countries to focus on...

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Money in an economy without banks

by Alex Schaefer   Most of the world's money is currently in the form of deposits created by banks. After the 2008 credit crisis, which instilled a strong suspicion of banks among the public, it became fashionable to ask what money would look like in an economy without these organizations. Burn them to the ground or shutter them, what rises in their place? One vision is to pursue pure centralization: have the state monopolize all money creation, say by providing universally-available...

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