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

By Peter Egwuatu The 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…