Training Program

Mid-level to senior officials in central banks and other government agencies dealing with regulation of the financial sector. 

Participants are expected to have an advanced degree in economics or finance or equivalent work experience. 

This course is designed to give participants a foundation in central bank digital currencies. This course assesses the business case for CBDC adoption from the perspective of users and central banks. Following some motivations and introductory remarks on digitalization, the course discusses the different forms of CBDCs and presents considerations for CBDC design and a conceptual framework. The course presents the benefits, costs and risks related to CBDCs. In addition, CBDCs are studied in terms of their implications for financial stability and bank intermediation, the monetary policy transmission, and financial inclusion. Some time is devoted to regulatory considerations, both at the national and international level. Case studies allow participants to reflect on and discuss country experiences and test their understanding of how and why some strategies have been successful while some countries have chosen not to proceed with the implementation of CBDCs yet.