"Innovation in digital money and payments has the potential to bring significant benefits but also raises considerable public policy and regulatory issues," Group of Seven finance ministers and central bankers said in a joint statement.
The finance officials met in person, with some joining by video, in Washington on Wednesday during the annual meetings of the International Monetary Fund and World Bank under the leadership of British finance minister Rishi Sunak. They said the principles were meant to support policy and design deliberations within and beyond the G7, complementing recently published work by a group of central banks and the Bank for International Settlements.
"We reaffirm that any CBDC should be grounded in our long-standing public commitments to transparency, the rule of law and sound economic governance," the statement said. "Any CBDC must support, and ‘do no harm’ to, the ability of central banks to fulfill their mandates for monetary and financial stability."
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