The OMFIF Podcast

From conception to implementation: the CBDC journey

Whether or not they eventually go through with it, virtually every central bank will, sooner or later, at least consider issuing a digital currency. Whatever their aims and strategic priorities, they will need to go through a process of strategy formation, examination and experimentation. This process is fraught with challenges and must be carefully constructed to ensure all stakeholders are kept abreast of developments. Tom Bruls, head of professional services for CBDC at G+D, joins DMI editor Lewis McLellan to talk about the process and how to address the challenges that might arise.

Maintaining liquidity in times of crisis

Max Castelli, head of strategy, sovereign institutions, and Philipp Salman, director of strategy and advice, global sovereign markets, UBS Asset Management, spoke with Taylor Pearce, senior economist at OMFIF, about financial liquidity. They looked at how institutional investors have balanced liquidity needs with their pursuit of higher returns over the past decade and how these strategies are changing. They also discussed central banks' asset purchasing programmes on excess liquidity and how quantitative tightening will influence financial markets and investors, with a focus on the US Treasury market. 

The rise of gold as a central bank reserve asset

Barry Eichengreen, professor of economics and political science at the University of California, Berkeley, and Chima Simpson-Bell, economist in the African Department at the International Monetary Fund, joined Taylor Pearce, senior economist at OMFIF, to discuss the rise of gold as a central bank reserve asset.

OMFIF’s Global Public Investor 2023 report revealed a resurgence in demand for traditional reserve assets, including gold. The podcast explores the structural trends behind the increase in gold accumulation and offers insight into emerging markets’ motivations for acquiring it. It also examines the findings of the IMF publication on central banks’ post-financial crisis gold reserve growth.

In conversation with the ministry of finance: growth prospects for the Hungarian economy

Tibor Tóth and Péter Banai, state secretaries of the Hungarian ministry of finance, joined Christopher Garnett, senior adviser to OMFIF’s Sovereign Debt Institute, for a conversation on the economic outlook in Hungary. They cover labour market reform, increasing and diversifying foreign direct investment inflows and export diversification and fiscal consolidation following the pandemic. They also discuss developments in the disbursement of European Union structural and Recovery and Resilience Facility funds.

In conversation with Barnabás Virág: growth prospects for the Hungarian economy

Barnabás Virág, deputy governor of Magyar Nemzeti Bank, joins David Marsh, OMFIF chairman, for a conversation on the economic outlook in Hungary. Their discussion covers the country’s short- and long-term economic trajectory. They cover inflation and monetary policy, improving productivity and competitiveness, foreign direct investment, export diversification, progress on the sustainable agenda and Hungary’s prospects for joining Europe’s economic and monetary union.  

The building blocks for accessing crypto

The cryptoasset class, while battered by scams and scandals, remains a valuable and exciting asset class. But if regulated mainstream financial institutions are to interact with it seriously, they need high-quality infrastructure. Duncan Trenholme and Simon Forster, TP ICAP's global co-heads of digital assets join Digital Monetary Institute editor, Lewis McLellan, to discuss the importance of trusted institutional relationships when investing in the cryptoasset ecosystem.

The state of Europe: interest rates, inflation and recession risks

In this OMFIF podcast, Vítor Constâncio, former governor of the Banco de Portugal and vice president of the European Central Bank from 2010-18, joins Ellie Groves, managing director, Economic and Monetary Policy Institute at OMFIF. They discuss the ECB’s September rate hike, the macroeconomic environment in Europe – including the difference in inflation between Portugal and Germany – and the fiscal framework that needs to be implemented to combat challenges.

Banco Central de Chile’s approach to improving gender balance

Marcela Pumarino, people manager at Banco Central de Chile, joins Arunima Sharan, senior research analyst at OMFIF, to discuss the ways in which central banks can work improve gender balance in leadership positions within the financial sector. They delve into some of the specific policies that Banco Central de Chile has adopted to promote gender equality, and the importance of having diversity in leadership roles more broadly in the financial sector.

How Microsoft is preparing for artificial intelligence in the global economy

How are technology giants preparing for artificial intelligence disruption? Preliminary evidence suggests that AI will improve productivity growth considerably, therefore boosting standards of living through innovations across major industries. Yet, it also seems likely to spur growing inequality while also presenting serious safety risks. In this podcast with Microsoft’s Greg Wilson, world wide public sector chief technology officer, OMFIF discusses how one of the world’s AI leaders are preparing for artificial intelligence’s benefits and potential risks to the global economy.

Digital remittances and the power of choice

Chad Harper, global payments fellow of Visa Economic Empowerment Institute, joins Katie-Ann Wilson, managing director of OMFIF’s Digital Monetary Institute, to discuss the VEEI’s new research on the importance of choice and trade-offs when looking at digital remittances. They discuss key trends in the global costs of remittances as well as the progress that is being made towards the G20 targets. They also touch on the pandemic’s impact on remittances and what more the public and private sector can do to promote choice and transparency.

The power of choice: Options and trade-offs for digital remittances

Further reading from the Visa Economic Empowerment Institute:

Let’s give a voice to end users: Cross-border payments, attributes, and use cases

The economic empowerment of digital remittances: How to unlock the benefits of innovation and competition