The level and trend in cash use in a country will influence the demand for central bank digital currency (CBDC). While access to digital currency will be more c

We study the optimal design of a central bank digital currency (CBDC) in an environment where agents sort into cash, CBDC and bank deposits according to their p

This paper marks the launch of a new IMF series, Fintech Notes. Building on years of IMF staff work, it will explore pressing topics in the digital economy and

Following the companion paper on the new policy challenges related to the adoption of digital forms of money, this paper presents an operational strategy for th

The level and trend in cash use in a country will influence the demand for central bank digital currency (CBDC). While access to digital currency will be more c