## Central Bank Digital Currencies: Principles and Policy Considerations (CBDC)

## Source details

**Canonical URL:** [Central Bank Digital Currencies: Principles and Policy Considerations (CBDC)](https://www.imf.org/en/capacity-development/training/icdtc/courses/cbdc)

## Other formats

- [Markdown version](/en/capacity-development/training/icdtc/courses/cbdc/index.md)
- [Structured JSON version](/en/capacity-development/training/icdtc/courses/cbdc/index.json)
- [Bundle manifest](/en/capacity-development/training/icdtc/courses/cbdc/bundle-manifest.json)

## Bibliographic details
- Published: July 24, 2025

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## Upcoming offerings

| Start date | End date | Location | Delivery Method | Session No. | Primary & (Interpretation) language | Apply |
| --- | --- | --- | --- | --- | --- | --- |
| September 21, 2026 | September 25, 2026 | Ebene, Mauritius | [[In-person Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods) | [AT 26.19](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2026/cbdcat26-19) | English (French, Portuguese) | Deadline passed |
| July 19, 2027 | July 23, 2027 | Vienna, Austria | [[In-person Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods) | [JV 27.22](https://www.imf.org/en/capacity-development/training/icdtc/schedule/jv/2027/cbdcjv27-22) | English | [Apply online](https://www-ins.imf.org/TAS/signon.aspx?pkey=JV27.22E) by April 18, 2027 |

### Course overview and scope
- Designed to give participants a foundation in central bank digital currencies.
- Assesses the business case for CBDC adoption from the perspective of users and central banks.
- Discusses motivations and introductory remarks on digitalization.
- Reviews different forms of CBDCs and presents considerations for CBDC design and a conceptual framework.
- Presents the benefits, costs and risks related to CBDCs.
- Studies CBDCs in terms of their implications for:
  - financial stability and bank intermediation,
  - the monetary policy transmission,
  - financial inclusion.
- Devotes time to regulatory considerations at the national and international level.
- Uses case studies to reflect on and discuss country experiences, to test understanding of why some strategies succeeded while some countries have chosen not to proceed with implementation.

### Target audience and qualifications
- Target Audience:
  - Mid-level to senior officials in central banks and other government agencies dealing with regulation of the financial sector.
- Qualifications:
  - Participants are expected to have an advanced degree in economics or finance or equivalent work experience.

### Learning objectives
Upon completion of the course, participants should be able to:
- Explain the economic rationale for the use of CBDCs compared to other payment instruments.
- Use the framework presented in the course to think about the design and implementation of CBDCs.
- Use the concepts introduced in the course to assess the benefits and costs of CBDCs.
- Identify threats to financial stability and various risks based on case studies.
- Extract lessons from country pilots to try to prevent design pitfalls.

### Pedagogy and practical components
- Conceptual framework and design considerations form the core analytical tools.
- Case studies enable application of concepts to country pilots and real-world decisions.
- Comparative analysis of benefits, costs, and risks supports policy judgment on whether to proceed with CBDC implementation.

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## References

- [In-person Training](https://www.imf.org/en/capacity-development/training/icdtc/delivery-methods)
- [AT 26.19](https://www.imf.org/en/capacity-development/training/icdtc/schedule/at/2026/cbdcat26-19)
- [JV 27.22](https://www.imf.org/en/capacity-development/training/icdtc/schedule/jv/2027/cbdcjv27-22)
- [Tax Regional Workshop on Strategic Management](https://www.imf.org/en/capacity-development/training/icdtc/schedule/ce/2026/taxce26-43)
- [Apply online](https://www-ins.imf.org/TAS/signon.aspx?pkey=JV27.22E)

_Source: https://www.imf.org/en/capacity-development/training/icdtc/courses/cbdc_