SAFE/CFS/Deutsche Bundesbank Lecture: Agustín Carstens (General Manager, BIS)
Title: Money in the Digital Age: What Role for Central Banks?
Speaker: Agustín Carstens (General Manager, Bank for International Settlements)
With welcome remarks by Jens Weidmann (President of the Deutsche Bundesbank) and Brigitte Haar (Vice President of Goethe University).
Mr. Carstens will take questions from the audience. The Q&A session will be moderated by Otmar Issing (President of the CFS).
Reviewing the economic functions and foundations of money, this lecture by the BIS General Manager distinguishes different forms of money, and, reviewing also historical experiences, asks whether new technology alters fundamentally the balance of advantage of central bank money. The inquiry sheds light on policy questions surrounding cryptocurrencies and central banks’ roles in payments systems and digital money issuance.
Agustín Carstens became General Manager of the BIS on 1 December 2017. He was Governor of the Bank of Mexico from 2010 to 2017. A member of the BIS Board from 2011 to 2017, he was chair of the Global Economy Meeting and the Economic Consultative Council from 2013 until 2017. Carstens also chaired the International Monetary and Financial Committee, the IMF's policy advisory committee from 2015 to 2017. He began his career in 1980 at the Bank of Mexico. From 1999 to 2000, he was Executive Director at the IMF. Carstens later served as Mexico’s deputy finance minister (2000–03) and as Deputy Managing Director at the IMF (2003–06). He was Mexico's finance minister from 2006 to 2009. He has been a member of the Financial Stability Board since 2010 and is a member of the Group of Thirty. Carstens holds an MA and a PhD in economics from the University of Chicago.