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Leveraging Digital Money to Facilitate Remittances – IMF

The Spring Meetings of the International Monetary Fund (IMF) and the Board of Governors of the World Bank Group (WBG) bring together central bankers, ministers of finance and development, private sector executives, representatives from civil society organizations and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness. Also featured are seminars, regional briefings, press conferences and other events on the global economy, international development, and the world’s financial system. This year’s Spring Meetings events will be held in a virtual format on April 5-11, 2021.

Back in 2017, the world bank published a PDF called “” in which they spoke about Ripple being an alternative to correspondent banking. Just yesterday the IMF put out a press release titled “Leveraging Digital Money to Facilitate Remittance“. Kristalina Georgieva, IMF Managing Director spoke about a revolution in digital money that could make remittances easier, faster, and cheaper.

Remittances have always played a key role in improving the lives of people in developing economies, and supporting economic activity. As we look for ways to address the challenges of economic divergences across countries, we need to use every tool we can to support those most affected by the pandemic. And with the risk of a growing digital divide between rich and poor countries, we must also ensure that all countries can benefit from the latest innovations in digital money and payments, particularly remittances.

The full video is below or you can check out a summary on our Youtube Page https://youtu.be/iBTAcl8E1wc

 

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