IMF Bahamas Digital Currency Bitcoin

ID

590769

SHOOT DATE

29 Jul 2021

SHOOT LOCATION

Washington, DC, United States

PRODUCTION COMPANY

IMF

DESCRIPTION
IMF Bahamas Digital Currency Bitcoin
SHOTLIST
Washington, DC – Recent
1. B-ROLL: Exterior IMF

Washington, DC --- 29 July 2021
2. Walk up to virtual news conference
3. Reporter cutaway
4. SOUNDBITE: (English) Kristalina Georgieva, IMF Managing Director:
“It is a revolution because of the tremendous opportunity, this shift in payment systems to central bank digital currency, stable coins provides to us as consumers in terms of speed, cost, accessibility. It is also an evolution because it takes time for countries to have in place the physical infrastructure for digital payments and also the institutional infrastructure. And I want to stress the latter. The regulators are wrestling with very important questions of trust, interoperability, the risks associated with shifting gear in that digital direction, like risks of cyber attacks or of money laundering and of crime being committed on digital platforms. So for us at the IMF, this presents a tremendous opportunity to work with the membership so they can capture the opportunities and manage the risks,”
5. 3-shot of Program
6. SOUNDBITE: (English) John Rolle, Bahamas Prime Minister:
“And I think when you when you narrow it like that, we're not in the business of trying to provide something that looks and feel like cryptocurrency. Our effort is actually to dissuade persons from looking at CBC as something that they should hoard. We want to maintain the role and the length of the banking system for the traditional use the people make and how they deploy savings. So it's very important that that we do not view central bank fiat, digital currency as something that is going to function and behave like the crypto assets,”
1. 3-shot of Program
2. SOUNDBITE: (English) Kristalina Georgieva, IMF Managing Director:
“How do we know what we collect in taxes when Bitcoin goes up and Bitcoin goes down? How do we plan for expenditures? Remember in April, Bitcoin crossed sixty-five thousand and then it dropped almost half of it. That is a problem that the Ministry of Finance is going to be wrestling with. And it is not an easy one,”
3. 3-shot of Program
4. SOUNDBITE: (English) Kristalina Georgieva, IMF Managing Director:
“How could we justify highly energy intensive mining of something for which they're much better stable and reliable substitutes? As I said in the beginning, it is OK to have an asset that people invest in when it is a more volatile asset, therefore riskier asset. It takes adventurous investors, but that's fine. What is a problem is when we tied up the fate of the economy to the volatility of this asset and to have it to be currency, it has to be very broadly accepted,”
USAGE RIGHTS/RESTRICTIONS
IMF content shall not be edited or modified in a manner intended to create a false or misleading version of the underlying material.

CONTACTS

  • Chintak Chhapia
    India