International Monetary, Assistant General Counsel, Deputy Director discussed on Unchained
I guess for today our dog deputy director of the monetary and capital markets gets apartment of the i._m._f. And yen lu assistant general counsel at the legal department of the i._m._f. Welcome on yen thank you. Let's start with a basic question. What does the i._m._f. Do oh okay so that's <hes> that's easy one. I think the international international monetary fund is basically a multinational organization. <hes> we are member based organization. We have one hundred eighty nine members consisting the government government of the countries <hes> we promote international financial and monetary stability so that's basically basically <hes> the function of the i we were founded in nineteen forty four so we're going to celebrate the seventy fifth anniversary this year actually is as part of the bretton grete who would system and there's one thing i want to add which is before the show dong yen explained to me that the views expressed during this interview are their own and do not necessarily represent the views of the i._m._f. So if part of the mission of the i._m._f. Is to ensure the stability ability of the international monetary system. How has the advent of blockchain technology in cryptocurrencies affected the i._m._f. Activities thus far well <hes> in this is an exciting time. We're seeing a lot of <hes> changes in the technology space <hes> i wouldn't say it has changed. Install our work so far but you know we're interested in understanding wanted. These technologies are implications for the financial system of concealing but in our member countries and eventually how that's going to affect the international monetary landscape <hes> so i think this is just the beginning and we are still in the learning motz who are very interested in the issues that are going to that. I go into shape the finish your systems across colo-. I just want to add things many of our countries. Member countries are interesting this issue and we are you know <hes> obligated. Did you know sense to really understand equally occasions so that we can provide quality advice and technical assistance to our member countries in this area. I yeah i actually wanted to ask a little bit more about thought yen because the main ways in which <hes> the i._m._f. Works with the member countries. I believe is <hes> through the central banks and so let's before we get even more into blockchain technologies season digital currencies. Can you just explain what the main ways are in which central banks can influence the economies of their countries. I i think well there are cars central banks <hes> but in terms of our mandate we look beyond just what central bank you know banks do do you also look at a country's overall economic policies and also what their financial sector policies to make sure that you know <hes> overall overall the global international system or global financial stability will be maintained so we we are engaging.