The managing director of the International Monetary Fund (IMF) has suggested that central bank digital currencies (CBDCs) could eventually replace cash in the global financial system. Kristalina Georgieva made the comments during a speech at the Singapore Fintech Festival, noting that around 60% of countries are exploring CBDCs and recognising their potential to enhance financial inclusion. Georgieva also highlighted the importance of cross-border payments and said that technological advancements such as AI and blockchain could amplify the benefits of CBDCs. The IMF has released a CBDC Virtual Handbook, which notes that CBDCs could help bridge financial divides and promote more inclusive growth if well-designed.