Dollar-pegged stablecoins could bypass capital controls and weaken monetary sovereignty in emerging markets, researchers at the Bank for International Settlements said. Comparing foreign-currency deposits and stablecoin inflows across more than 130 countries, they found stablecoin flows were largely unaffected by capital and foreign-exchange restrictions. The researchers said households and firms may shift into dollar tokens where local currencies are unstable or financial access is limited, reducing central banks’ policy influence.

Sub-Saharan Africa could increase economic output by about 4 percent over the next decade from adopting artificial intelligence if it improves electricity, internet access and digital capabilities, the International Monetary Fund said. Without such reforms, the gain would be limited to 0.2 percent, a report co-author said. The IMF said power supply and connectivity are key constraints, and warned that investment concentrating in a few countries could widen gaps within the region.