---
title: "Head of IMF Urges Governments to Consider Issuing Digital Currencies"
description: "Governments should consider issuing their own digital currencies, the head of a global finance organization told attendees at a fintech conference."
date: "2018-11-14"
modified: "2018-11-14"
authors:
  - name: "Kristin Houser"
    link: "https://futurism.com/authors/kristin"
url: "https://futurism.com/digital-currencies-lagarde-imf"
categories:
  - "Future Society"
tags:
  - "digital currencies"
  - "international monetary fund"
---

# Head of IMF Urges Governments to Consider Issuing Digital Currencies

![Governments should consider issuing their own digital currencies, the head of a global finance organization told attendees at a fintech conference.](<https://futurism.com/wp-content/uploads/2018/11/digital-currencies-lagarde-imf.jpg>)
*\<em\>Image: Adobe Stock/Tag Hartman-Simkins\</em\>*

## Think About It

The head of one of the world's most influential financial organizations just [threw her weight](<https://www.bbc.com/news/business-46203869>) behind digital currencies.

Christine Lagarde is the head of the International Monetary Fund, an organization dedicated to ensuring the stability of the global economy. On Wednesday, she gave a [speech](<https://www.imf.org/en/News/Articles/2018/11/13/sp111418-winds-of-change-the-case-for-new-digital-currency>) at a financial tech conference in Singapore, where she suggested that governments take a good hard look at [cryptocurrencies](<https://www.investopedia.com/terms/d/digital-currency.asp>) and other digital currencies.

"I believe we should consider the possibility to issue digital currency," Lagarde said. "There may be a role for the state to supply money to the digital economy."

## More Pros Than Cons

During her speech, Lagarde argued that there are many potential benefits of a state-issued digital currency, which she believes could take the form of a "state-backed token, or perhaps an account held directly at the central bank."

"The advantage is clear," she told the audience. "Your payment would be immediate, safe, cheap, and potentially semi-anonymous... And central banks would retain a sure footing in payments."

Lagarde also announced the release of a new [paper](<https://www.imf.org/en/Publications/Staff-Discussion-Notes/Issues/2018/11/13/Casting-Light-on-Central-Bank-Digital-Currencies-46233>) exploring the pros and cons of a state-issued digital currency on the IMF website.

## A Turning Point

Digital currencies are still largely the domain of private actors — to date, only a [handful of governments](<https://medium.com/datadriveninvestor/8-countries-exploring-use-cases-for-a-state-backed-cryptocurrency-a8947903c58b>) have even [dabbled in the space](<https://futurism.com/federal-reserve-confirms-us-central-bank-thinking-about-digital-currency>), and those efforts have produced [mixed results](<https://cointelegraph.com/news/marshall-islands-president-survives-no-confidence-vote-prompted-by-national-crypto-plans>).

The IMF is a global finance leader — of the 195 countries in the world, 189 are members — so its head suggesting that governments consider issuing digital currencies carries great weight.

Ultimately, Lagarde's speech could prove to be a turning point in the adoption of digital currencies, moving the assets from the fringes of society into the financial mainstream.

**READ MORE:** [IMF's Lagarde Says Central Banks Could Issue Digital Money](<https://www.bbc.com/news/business-46203869>) \[*BBC*\]

***More on cryptocurrencies: [Federal Reserve Confirms US Central Bank Is Thinking About Their Own Digital Currency](<https://futurism.com/federal-reserve-confirms-us-central-bank-thinking-about-digital-currency>)***

### Author social links  
[LinkedIn](<https://www.linkedin.com/in/kristinjhouser>)