Thanks to COVID measures, the local economy may not recover until 2022.
A representative for the International Monetary Fund has said the Marshall Islands’ digital sovereign currency would currently pose a risk to the islands’ financial stability. Following a March consultation, International Monetary Fund, or IMF, representative Yong Sarah Zhou said the issuance of the Marshall Islands’ digital sovereign currency, called SOV, as legal tender would “raise risks to macroeconomic and financial stability as well as financial integrity” of the islands. According to Zhou, the measures the Republic of the Marshall Islands, or RMI, took to contain COVID-19 may have been „swift and strong,” but also strained the local economy. “The issuance of the SOV could jeopardize the RMI’s last USD corresponding banking relationship,” said Zhou. “This combined with anti-money laundering and combatting the financing of terror
Źródło: https://cointelegraph.com/news/marshall-islands-digital-currency-would-raise-risks-says-imf
