Latam Insights IMF States Latams CBDC Interest Rises Lula Emphasizes Bretton Woods Institutions No Longer Function
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, the International Monetary Fund (IMF) reports interest in central bank digital currencies (CBDC) in Latam and the Caribbean is picking up, Lula criticizes the current international economic system, and Venezuela integrates the Russian Mir payments system. IMF Finds Interest in CBDC Picks up Steam in Latam and the Caribbean A report published by the International Monetary Fund (IMF) revealed that interest in central bank digital currencies (CBDC) remains high in Latam and the Caribbean. According to a recent survey with governments of the region, “half of the respondents were considering both retail and wholesale CBDC options.” Brazil is one of the countries experimenting with a two-tiered CBDC model, which is in its proof of concept stage. If issued, it would be connected to the “Open Finance” concept of the Central Bank of Brazil. The reasons for