How Are Central Bank Mandates Evolving?
On 10 October in Marrakech, AFI and the Intergovernmental Group of 24 (G-24) body which coordinates developing countries' positions on monetary and development issues, held a Central Bank Governors' Roundtable on the topic of the evolving mandates of central banks. The event which took place during the International Monetary Fund (IMF) and World Bank Group Annual Meetings, explored how financial inclusion contributes to policy objectives in a range of areas, from the development of inclusive innovation to the advancement of social and environmental goals.
Delivering a guest address, Dr Dong He, IMF Deputy Director for Monetary and Capital Markets, emphasized the potential of Central Bank Digital Currencies (CBDCs) to serve financial inclusion. "If designed properly and with similar properties as cash,” Dr He said, CBDCs can be “one of the instruments for digital payments and a pathway for broader access to financial services, including credit, insurance and wealth management."