Many central banks want to introduce central bank digital currencies to shake up the payments industry, disrupting the established order and allowing new entrants to compete for payments business. Some in the banking community will lobby against CBDCs in an effort to protect their interests, but policy-makers would do well to press on.
CBDCs have the potential to transform the global economy. Through articles, meetings and podcast discussions, OMFIF is analysing how digital currencies can strengthen payment systems and improve cross-border transactions.
Masazumi Watakabe, professor of economics at Waseda University and former deputy governor of the Bank of Japan, discusses Japan’s monetary outlook, its experience of negative rates and future economic prospects.
Monique Newiak, deputy unit chief, inclusion and gender, and Mariarosaria Comunale, economist at the International Monetary Fund, discuss the importance of gender balance in financial institutions.
Financial inclusion is key to unlocking economic potential in the Middle East and Africa. This report, in collaboration with Mastercard, examines initiatives in the region.
