Policy-makers should identify a clear need and use for central bank digital currencies (CBDCs) before launching them, the Central Banking Spring Meetings were told.

Panellists saw considerable promise in CBDCs, but said they will need considerable pre-launch work on infrastructure development, research and public engagement.  

An official from a southern African central bank said she believed CBDC “technology needs to mature”. She recounted technical difficulties suffered by CBDCs in Nigeria