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IMF and World Bank Approach to Cross-Border Payments Technical Assistance

Download or Read eBook IMF and World Bank Approach to Cross-Border Payments Technical Assistance PDF written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2023-12-22 with total page 45 pages. Available in PDF, EPUB and Kindle.
IMF and World Bank Approach to Cross-Border Payments Technical Assistance
Author :
Publisher : International Monetary Fund
Total Pages : 45
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ISBN-10 : 9798400264412
ISBN-13 :
Rating : 4/5 (12 Downloads)

Book Synopsis IMF and World Bank Approach to Cross-Border Payments Technical Assistance by : International Monetary Fund. Monetary and Capital Markets Department

Book excerpt: The G20 had made enhancing cross-border payments a priority. Faster, cheaper, more transparent and more inclusive cross-border payment services have the potential to be transformative for citizens and economies across the world. The Roadmap for Enhancing Cross-Border Payments, launched in 2020, is the first attempt by the international community to address the challenges faced by cross-border payments in a holistic way. A key foundational element in the Roadmap was the publication by the FSB of 11 quantitative targets to define the Roadmap’s aims and create accountability. Technical Assistance (TA) plays a critical role in helping achieve the Roadmap targets. TA relates closely to, and builds on, the IMF’s and World Bank’s respective missions. This paper outlines a multi-year strategy to provide TA in order to meet the cross-border payments targets. The paper (1) details the important role TA plays in achieving the Roadmap targets; (2) summarizes stocktakes conducted by the IMF and World Bank of recent and ongoing TA supporting cross-border payments; and (3) explains the IMF’s and World Bank’s approaches to cross-border payments TA. The IMF and World Bank commit to collaborating, coordinating, and complementing each other on cross-border payments TA wherever possible and appropriate at country/project level.


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