• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Friday, June 13, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home News

IMF Report: US Dollar Reserves to maintain dominance despite de-dollarization trend

by Reshab Agarwal
May 26, 2023
in News, Trending
Reading Time: 3 mins read
0
Gaja Capital Closes Its Third Funding Round By Raising US $240 Million
TwitterWhatsappLinkedin

In a recent report, the International Monetary Fund (IMF) has highlighted that despite the growing trend of de-dollarization in global reserves, it does not foresee a rapid shift away from US dollar reserves. The IMF’s analysis provides valuable insights into the current state of global currency reserves and challenges the notion that a major transformation is underway. As the world grapples with economic uncertainties, the role of the US dollar as the dominant reserve currency remains resilient.

You might also like

InterGlobe Enterprises Set to Offload 4% IndiGo Stake via Block Deals

Ola’s Zero Commission Revolution: Empowering Drivers, Redefining Ride-Hailing

IPO-Bound Groww Raises $200 Mn at $7 Bn Valuation, Posts Profit Surge

According to IMF Managing Director Kristalina Georgieva, despite the increasing de-dollarization trend and the possibility of a U.S. debt default, the International Monetary Fund (IMF) does not anticipate a quick change in US dollar reserves. Georgieva reassures that it is not yet time to bid farewell to your dollars, and she expresses confidence that the United States will meet its debt obligations without defaulting.

IMF: reserve currency status of the US Dollar  not in jeopardy

During her participation at the Qatar Economic Forum in Doha, organized by Bloomberg, Kristalina Georgieva, the managing director of the IMF, conveyed her assurance that the US dollar will continue to retain its position as the world’s reserve currency. Georgieva acknowledged the ongoing discussions surrounding de-dollarization among different nations aimed at reducing their reliance on the USD.

“We don’t expect a rapid shift in (dollar) reserves because the reason the dollar is a reserve currency is because of the strength of the U.S. economy and the depth of its capital markets … Don’t kiss your dollars goodbye just yet. “

An increasing number of nations are intensifying their de-dollarization initiatives. The BRICS economic bloc, consisting of Brazil, Russia, India, China, and South Africa, is leading this charge by advocating for the utilization of their respective national currencies rather than the US dollar. Additionally, discussions are underway within the BRICS group regarding the possibility of establishing a shared currency, which would aid member countries in diminishing their dependence on the US dollar.

The upcoming summit of BRICS leaders is expected to include deliberations on the proposal of a shared currency. Furthermore, ASEAN, comprising 10 Southeast Asian nations, recently reached an agreement to promote the use of their respective national currencies. In Tehran this week, nine Asian countries engaged in discussions regarding measures aimed at de-dollarization.

The IMF chief expresses optimism about the unlikelihood of a U.S. default.

Regarding the U.S. debt crisis, the managing director of the IMF expressed her confidence in the United States’ ability to avoid a default.

U.S. Treasury Secretary Janet Yellen has issued repeated warnings that the Treasury may face difficulties in meeting all of the government’s financial obligations as early as June 1 if the debt limit is not raised or suspended by Congress before then. The Congressional Budget Office (CBO) similarly projected the possibility of a U.S. default within the first two weeks of June. However, global investment bank Goldman Sachs has stated that the actual deadline for a U.S. default is more likely around June 8-9.

“History tells us that the U.S. would wrestle with this notion of default … but come the 11th hour it gets resolved and I have confidence we will see that play again.”

The IMF has recently cautioned about the “significant consequences” that would arise for both the American and global economies in the event of a U.S. default on its debt obligations.


In conclusion, while there is a rising de-dollarization trend and concerns about a potential U.S. debt default, the IMF, represented by its managing director Kristalina Georgieva, remains confident that there won’t be a rapid shift in US dollar reserves.

Georgieva reassured that the U.S. is not expected to default on its debt obligations. However, discussions on de-dollarization and efforts to promote national currencies continue, with the BRICS economic bloc and ASEAN countries advocating for alternatives to the USD. It is important to closely monitor these developments, as a U.S. default could have severe repercussions on the American and global economies, as cautioned by the IMF.

Also Read: Circle launches Euro-Pegged Stablecoin on Avalanche Blockchain.

Tags: #ReservesDollarUS
Tweet54SendShare15
Previous Post

Circle launches Euro-Pegged Stablecoin on Avalanche Blockchain

Next Post

Tips and Tricks to Find Your Best Custom Application Development Partner

Reshab Agarwal

Reshab is a tech-enthusiast who likes to write about all things crypto. He is a Bitcoin bull and believes in a decentralized future of finance. Follow him on Twitter for more!

Recommended For You

InterGlobe Enterprises Set to Offload 4% IndiGo Stake via Block Deals

by Ishaan Negi
June 13, 2025
0
InterGlobe Enterprises Set to Offload 4% IndiGo Stake via Block Deals

The parent company of low-cost airline behemoth IndiGo, InterGlobe Enterprises, is reportedly seeking to sell off up to 4% of the firm through block agreements, a move that...

Read more

Ola’s Zero Commission Revolution: Empowering Drivers, Redefining Ride-Hailing

by Ishaan Negi
June 13, 2025
0
MapMyIndia alleges data theft and unfair practices by Ola to develop Ola Maps

In India’s ever-bustling cities, cab drivers are the silent engines that keep people moving. For years, many of them have relied on platforms like Ola and Uber to...

Read more

IPO-Bound Groww Raises $200 Mn at $7 Bn Valuation, Posts Profit Surge

by Ishaan Negi
June 13, 2025
0
IPO-Bound Groww Raises $200 Mn at $7 Bn Valuation, Posts Profit Surge

In a significant milestone ahead of its anticipated IPO, India’s leading online investment platform Groww has secured $200 million in a funding round led by Singapore’s sovereign wealth...

Read more
Next Post
Tips and Tricks to Find Your Best Custom Application Development Partner

Tips and Tricks to Find Your Best Custom Application Development Partner

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?