IMF warns stablecoins cannot replace fiscal discipline as global debt risks mount

By Peter EgwuatuThe International Monetary Fund (IMF) has warned that the growing adoption of dollar-backed stablecoins must not be allowed to weaken fiscal and monetary discipline in countries whose currencies and assets underpin the digital tokens.According to a statement released by the IMF, its Managing Director, KristalinaGeorgieva, who spoke at the Jackson Hole Economic Policy Symposium, titled “Navigating a financially more fluid world”, said countries issuing reserve assets