Asia-Pacific Regional Seminar 0425
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Office Information
IMF Regional Office for Asia and the Pacific (OAP)
Tokyo, Japan
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Seminar focus and key messages
- The global central banking community is actively exploring Central Bank Digital Currencies (CBDCs), which are expected to have a fundamental impact on both domestic and international monetary systems.
- A broad set of common questions has emerged across the globe despite differing national motivations and challenges.
- The IMF Regional Office for Asia and the Pacific hosted a regional seminar on the digital currency’s global landscape and Japan’s approach.
- The seminar highlighted the IMF’s role in assisting member countries, including through the CBDC Handbook, and shared experiences and insights from Japan’s exploration of digital money.
Agenda and program
- IMF Policy Paper: IMF Approach to Central Bank Digital Currency Capacity Development
- Presentations and discussion sequence:
- 9:30 AM — Registration
- 10:00 AM — Welcome & Introduction
- 10:05 AM — Presentation 1: Dong HE, Deputy Director, Monetary and Capital Markets Department, IMF
- 10:05 AM — Presentation 2: Naoto Shimoda, Associate Director-General in the Payment and Settlement Systems Department, the Bank of Japan
- 10:05 AM — Presentation 3: Hiromi Yamaoka, Board Director of Future Corporation, and the Chairperson of the Digital Currency Forum
- Moderator: Akihiko Yoshida, Director of the Regional Office for Asia and the Pacific (OAP)
- 11:05 AM — Q&A session
- 11:25 AM — Closing & post-event survey
Speakers and affiliations
- Dong HE
- Deputy Director of the Monetary and Capital Markets Department (MCM) of the International Monetary Fund.
- Oversight responsibility for MCM’s work on digital currencies and fintech.
- Previous experience: World Bank (1993-1998), IMF (1998-2004), Hong Kong Monetary Authority (2004-2014).
- Former Executive Director at HKMA and Director of the Hong Kong Institute for Monetary Research.
- Holds a doctorate in economics from the University of Cambridge.
- Naoto Shimoda
- Associate Director-General in the Payment and Settlement Systems Department of the Bank of Japan.
- Leading role in the CBDC project, cross-border payments and international technical standards.
- Previous roles: head of Basel Committee on Banking Supervision team in the BOJ, head of BOJ’s Hong Kong office, Director of International Financial Affairs at Japan’s Ministry of Finance.
- Joined the Bank of Japan in 1992.
- Studied law at Hitotsubashi University and computer science at Harvard University.
- Hiromi Yamaoka
- Board Director of Future Corporation and Head of Future Institute of Research.
- Chairperson of the Digital Currency Forum, which consists of around 100 leading companies in Japan.
- Previous roles: Director General of the Markets Dept. and the Payment and Settlement Systems Dept of the Bank of Japan; Member of the Basel Committee; Alternate Executive Director for Japan in the IMF.
- Holds LL.B. from University of Tokyo and LL.M. from University of California at Berkeley.
Institutional outputs and capacity development
- The IMF’s CBDC Handbook is cited as a tool through which the IMF assists member countries in CBDC exploration and capacity development.
- The seminar framed the IMF as playing a prominent role in supporting member country efforts on digital currency issues.
Content in this bundle
- Central Bank Digital Currency (CBDC): A Global Perspective
- Digital Currencies and the Future of Monetary System (Apr.25, 2023) — Hiromi Yamaoka
- The Bank of Japan’s work on central bank digital currency