Rise of fintech strengthens case for capital controls, IMF says
Countries may have to throw “sand in the gears” to protect monetary sovereignty, says Georgieva
The increasing efficiency of global financial transactions due to new forms of fintech may mean there is a stronger case for using capital controls, the International Monetary Fund said on May 10.
IMF managing director Kristalina Georgieva said evolution in payment systems would have a knock-on effect on the international monetary system. The world could see an increase in capital flows. Capital inflows might boost productive investment, but such flows have often proved volatile in the past.
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