Namibia is advancing its CBDC project despite IMF concerns. The Bank of Namibia focuses on financial inclusion and cross-border payments while evaluating public acceptance of digital currency. Partnerships with other banks are key to the initiative.
Namibia is continuing its retail central bank digital currency (CBDC) project, despite skepticism expressed by the International Monetary Fund (IMF), which advised the nation to consider alternative digital finance options. Kazembire Zemburuka, the Bank of Namibia (BoN)’s director for international relations, confirmed that the project is in the preparation phase, focusing on enhancing financial inclusion and improving cross-border payment efficiency with the digital Namibian dollar.
Namibia is moving forward with its CBDC initiative, aiming to enhance financial services and cross-border payments despite IMF skepticism. The project is in collaboration with various stakeholders, including other central banks in the region. While there are challenges in implementation, BoN remains committed to leveraging digital currency to improve financial accessibility for Namibians.
Original Source: coingeek.com
