IMF Head: Cryptocurrencies May Save Global Economic Situation

June 18, 2018

According to the head of the International Monetary Fund (IMF) Christine Lagarde, global financial system hasn’t fully recovered after the 2008 world crisis and so far there is no solution to fix existing problems that arose since. Along with that she shared her optimistic views on the future of cryptocurrencies.

The financial crisis of 2008 demonstrated how unstable and shaky global economy today is. Each and all countries have suffered, and its aftereffects still haven’t been resolved.  Moving on, numerous experts believe, the situation is getting worse due to relations between the G7 countries leaders and the US President Donald Trump.

Given all this Lagarde expressed her concern about the prospects for future development of the world economy. She was confident that Trump complicates the international trade mechanisms. As Lagarde put it, tension in the financial world keep on rising, yet up go the chances to improve new assets including cryptocurrencies.

It is to be added that in March this year the IMF chief noted the advantages of Bitcoin for faster and cheaper transactions. But Lagarde stressed it that cryptocurrencies will not get wide spread until governments elaborate regulations for them which she sees as inevitable.

As Lagarde wrote in her blog, ignoring cryptocurrencies is not reasonable. Their potential must be welcomed, but risks they imply must be recognized.

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