New forms of money and new technologies have the potential to improve payment systems, enhance financial inclusion, and facilitate cross-border payments. Central bank digital currencies (CBDCs) have gained significant attention, with approximately 60% of countries…
Introductory Remarks for the Conference “Fiscal Policy in an Era of High Debt” Since the mid-1970s, global public debt has tripled to reach 92 percent of GDP by the end of 2022. So, debt levels…
Keynote address, Singapore Fintech Festival President Tharman, excellencies, distinguished guests: good morning! It’s a pleasure to be in Singapore again. And it’s an honor to join you this morning at this impressive forum to take…
(Budapest Economic Forum) — Good morning to all of you. Thank you for the introduction. It is a pleasure to be here today and for the first time at the Budapest Economic Forum. I am…
If a cryptocurrency like bitcoin were to become a commonly accepted medium of exchange—a global decentralized monetary system that no third party can stop or control—would the U.S. government attempt to make it illegal and…
To bitcoin enthusiasts, the advantages of cryptocurrency are obvious: It’s a global, decentralized financial network that no government or centralized entity can control. But bitcoin is also incredibly transparent. That’s by design. The system relies on a…