Visiting Scholar (Contractual) - MCMGA

Work for the IMF. Work for the World.

 

Deliverables:

The expert will advise the MCM team on the analytical approach for the October 2026 GFSR Chapter on the tokenization of financial assets. The team will consult and collaborate with the scholar on the conceptual design, empirical strategy and policy implications of the findings.

Expected output(s) and deadline(s):

• May 2026 (2 days). The expert, through emails and virtual meetings, will provide feedback on the draft chapter outline and discuss data issues, econometric results obtained to date, and potential additional research questions. Time and results permitting, the team will also start discussing with the scholar the main policy messages. Exact dates will be determined depending on the progress of the project.
• June 2026 (2 days). The scholar will review and provide comments on the preliminary results of the individual workstreams. The exact dates will be determined depending on the progress of the project.
• July 2026 (2 days). In-person or virtual meeting and email exchanges, the scholar will provide feedback on a full draft of the chapter. Exact dates will be determined depending on the progress of the project.

Background/rationale for requesting short-term hire:

Tokenization—the representation of financial assets on programmable digital ledgers—has the potential to fundamentally reshape financial market infrastructure by enabling near‑instant settlement, continuous trading and liquidity management, and compliance embedded directly in transactions. These features could improve efficiency, transparency, and market access across asset classes, while supporting innovation within the regulated financial system. At the same time, faster settlement speeds and tighter interconnections could amplify liquidity pressures, operational risks, and the speed of contagion.

This issue will be discussed in an analytical chapter for the October 2026 GFSR, provisionally titled “Tokenization of financial assets: opportunities and risks”. The chapter will focus on how tokenization is changing financial markets, the key benefits it brings, the bottlenecks to its growth, and how it alters, amplifies, or creates new risks to financial stability. It will outline multiple scenarios based on the depth and pace of tokenization across different types of financial assets, focusing on both advanced economies and emerging market countries.

Department:

MCMGA Monetary and Capital Markets Dept. Global Markets Analysis

Hiring For:

B03

The IMF is guided by the principle that the employment, classification, promotion, and assignment of staff shall be made without discrimination against any person. We welcome requests for reasonable accommodations for disabilities during the selection process. Information on how to request accommodations will be provided during the application process.