BEAC requests IMF CBDC technical assistance - 0 views
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John Kiff on 18 Apr 25[March 11, 2025] Banque des États de l'Afrique Centrale (BEAC) has requested IMF technical assistance to explore the feasibility of introducing a central bank digital currency (CBDC). BEAC serves six central African countries which form the Economic and Monetary Community of Central Africa (Cameroon, Central African Republic, Chad, Equatorial Guinea, Gabon, and the Republic of the Congo) all of whom use the CFA franc which is pegged to the euro (€1 = CFA 655.957). The BEAC has set up a CBDC working group that will coordinate with the other subregional institutions with the aim of developing a coherent and appropriate regulatory framework to monitor and manage the new risks associated with the emergence of digital payment methods.