Yet the willingness to embrace reform has dwindled quite substantially overall since the sovereign debt crisis came to a head – and the International Monetary Fund is not alone in highlighting this issue.2 Needless to say, the euro-area countries are each starting out from different positions, with their own particular economic structures, so it would be wrong to pursue a “one size fits all” approach.
While organizing a task force dedicated to the research related to central bank digital currency and adding more experts in this field to the workforce, the Bank of Korea will have to participate actively in related discussions at international organizations.