Bitcoin Not A Solution To Africa’s Economic Problems

Apr 29, 2022 · 48s
Bitcoin Not A Solution To Africa’s Economic Problems
Description

The International Monetary Fund warned that Bitcoin is not a cure-all for Africa’s economic woes after the Central African Republic adopted the cryptocurrency as legal tender. The head of the...

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The International Monetary Fund warned that Bitcoin is not a cure-all for Africa’s economic woes after the Central African Republic adopted the cryptocurrency as legal tender.
The head of the IMF’s African Department, Abebe Aemro Selassie, says that a robust payment system with financial transparency and a governance framework must be in place when adopting cryptocurrencies.
He says it is really important to not see such things as a panacea for the challenges that countries face.
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Author Africa Business Radio
Organization Africa Business Radio
Website -
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