Peru: Technical Assistance Report-Central Bank Digital Currency (CBDC) Stakeholder Engagement
IMF Staff Country Reports, November 3, 2023
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- Peru: Technical Assistance Report-Central Bank Digital Currency (CBDC) Stakeholder Engagement
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Bibliographic details
- Published: November 3, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400256172.002
Overview
- Focus: Central Bank Digital Currency (CBDC) Stakeholder Engagement.
- Objective: Enhance the Banco Central de Reserva del Perú’s (BCRP) ability to continue research and make an informed decision about moving into the development phase.
- Context: Consistent with recommendations from the first mission, the BCRP recognized the need to focus on an initial engagement with stakeholders, including representatives of the banking sector, payment service providers, and the Fintech and technology sector.
- Instrument used: The BCRP initiated a questionnaire based on the white paper to gather initial feedback, expectations, and concerns from the industry.
- Mission deliverable: The mission team provided a list of recommendations to enhance the BCRP's ability to continue its research and make an informed decision about moving into the development phase.
Stakeholder engagement process
- Target stakeholders:
- Representatives of the banking sector.
- Payment service providers.
- The Fintech and technology sector.
- Data collection method:
- A questionnaire based on the white paper to gather initial feedback, expectations, and concerns from the industry.
Recommendations (organized themes)
- Governance and project management:
- Adopt inclusive, agile, and transparent project management practices and governance.
- Market engagement and product development:
- Establish the central bank’s role in leading a “baseline product” with market participants.
- National coordination and leveraging existing assets:
- View the CBDC as a national product and leverage existing elements and participants at the government level.
Subjects and keywords
- Subject: Central Bank digital currencies, Digital financial services, Financial inclusion, Financial markets, Infrastructure, International organization, Monetary policy, National accounts, Payment systems, Technology
- Keywords: BCRP counterpart, CBDC journey, CBDC project, Central Bank digital currencies, Digital financial services, Financial inclusion, Global, Infrastructure, Payment systems, request of the Banco Central de Reserva del Peru, stakeholder engagement
International Monetary Fund. Peru: Technical Assistance Report-Central Bank Digital Currency (CBDC) Stakeholder Engagement (IMF Staff Country Reports 2023, 358).