In late 2021 and early 2022, CEMLA conducted a thorough survey involving 12 central banks to analyze key aspects related to the potential implementation of a Central Bank Digital Currency (CBDC). The findings revealed prevalent issues and objectives regarding digital payments in the region, as...

Most countries in Latin America and the Caribbean are implementing fast payment systems (FPS), often with the goal of enhancing access to and use of affordable financial services. FPS offer immediate transfer of funds on a 24x7 basis between end users. This paper assesses how FPS can promote...

In the late 1990s, José emigrated from Bolivia to Buenos Aires, Argentina. There, he found a formal job, which he lost in 2000. The following year, in 2001, José obtained 50 dollars and, using his mother's sewing machine, began informally manufacturing children's caps and selling them in La...

Remittances constitute a significant safety net for millions of households in Latin America and the Caribbean (LAC). Consequently, changes in international transfers can be a crucial agent of transmission of the COVID-19 induced economic crisis from richer to poorer nations and from urban to...

Even though remittances to the Latin America and Caribbean (LAC) region are expected to slow down by around 6 percent in 2009 before recovering in 2010, their large recorded value of USD 63 billion in 2008 brings these flows to center stage as a source of growth in times of crisis. There is...

The adoption of electronic payments has increased globally, driving economic growth by enabling smoother transactions. Digital payments enhance speed, security, trust, and efficiency, prompting governments to implement policies that promote financial inclusion through new payment technologies....