While CBDCs might be the best option for those nations with existent currencies and mature banks, private stablecoins might help less advanced economies.
The International Monetary Fund (IMF) believes that digital money, both private and public, could help the world’s most remote and dispersed nations in the Pacific Ocean to raise financial inclusion and the quality of financial services.
On March 25, the IMF published a report on the potential role of stablecoins and central bank digital currencies (CBDCs) on the economies of the Pacific Islands countries.
In a 58-page text, the IMF’s senior economic experts highlighted the challenges faced by the dozens of countries and microstates located in a Pacific Islands area:
