## Central bank digital currencies for cross-border payments

_Policy Papers, July 9, 2021_

## Source details

**Canonical URL:** [Central bank digital currencies for cross-border payments](https://www.imf.org/en/publications/policy-papers/issues/2021/07/09/central-bank-digital-currencies-for-cross-border-payments-461850)

## Other formats

- [Markdown version](/en/publications/policy-papers/issues/2021/07/09/central-bank-digital-currencies-for-cross-border-payments-461850/index.md)
- [Structured JSON version](/en/publications/policy-papers/issues/2021/07/09/central-bank-digital-currencies-for-cross-border-payments-461850/index.json)
- [Bundle manifest](/en/publications/policy-papers/issues/2021/07/09/central-bank-digital-currencies-for-cross-border-payments-461850/bundle-manifest.json)

## 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).*

---

## Content in this bundle

- **Policy Paper**
  - [Policy Paper (Markdown version)](/-/media/files/publications/pp/2021/english/ppea2021048.pdf.md){rel="alternate" type="text/markdown"}
  - [Policy Paper (PDF)](/-/media/files/publications/pp/2021/english/ppea2021048.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/policy-papers/issues/2021/07/09/central-bank-digital-currencies-for-cross-border-payments-461850_