Exploring and piloting digital currencies is becoming more popular amongst African central banks, but why?

Nigeria was the second country after the Bahamas to roll out a CBDC. Image: Unsplash/James Wiseman
Habtamu Fuje
Economist in the Africa Department, IMF
Saad Quayyum
Economist in the Strategy, Policy and Review Department, IMF
Franck Ouattara
Research Analyst in the Regional Studies Division, IMF

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