Central bank digital currencies for cross-border payments
Policy Papers, July 9, 2021
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Bibliographic details
- Published: July 9, 2021
- Series: Policy Papers
- DOI: https://doi.org/10.5089/9781513589039.007
Overview
- Publication date: July 9, 2021
- Pages: 37
- Volume: 2021
- Issue: 048
- Series: Policy Paper No. 2021/048
- DOI: https://doi.org/10.5089/9781513589039.007
- Stock No: PPEA2021048
- ISBN: 9781513589039
- ISSN: 2663-3493
- Subject: Monetary policy, Political economy
Purpose and scope
- The G20 has made enhancing cross-border payments a priority and endorsed a comprehensive programme to address the key challenges.
- The report takes stock of the international dimension of central bank digital currency (CBDC) projects and the extent to which they could be used for cross-border payments.
- The report investigates possible macro-financial implications associated with the cross-border use of CBDCs.
- The analysis does not imply that central banks mentioned in this report have reached a decision about issuance of a CBDC.
Key findings (as presented)
- Faster, cheaper, more transparent and more inclusive cross-border payment services would deliver widespread benefits for citizens and economies worldwide.
- Improved cross-border payments would support economic growth, international trade, global development and financial inclusion.
Intended contributions
- Inform policy discussion on the role of CBDCs in enhancing cross-border payments.
- Provide stocktaking of CBDC projects with an international dimension.
- Analyze macro-financial implications of cross-border CBDC use.
International Monetary Fund, World Bank, and Bank of International Settlements. "Central bank digital currencies for cross-border payments", Policy Papers 2021, 048 (2021).
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- Policy Paper