Cross-Border Payments Integration in Latin America and the Caribbean

Released on by Dimitris Drakopoulos
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  • Cross-Border Payments Integration in Latin America and the Caribbean Book Detail

  • Author : Dimitris Drakopoulos
  • Release Date : 2024-06-14
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 27
  • ISBN 13 :
  • File Size : 44,44 MB
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Cross-Border Payments Integration in Latin America and the Caribbean by Dimitris Drakopoulos PDF Summary

Book Description: Cross-border payment inefficiencies are a significant barrier to trade both within Latin America and the Caribbean (LAC) and between LAC and other regions. This paper provides a comprehensive review of historical efforts undertaken by various countries within the LAC region to address these challenges. We also explore the potential of recent financial innovations, such as digital currencies and blockchain technology, to enhance cross-border payments. While new technologies do not substitute for prudent and credible macroeconomic policies, leveraging these technologies can help LAC countries reduce transaction costs and times, thus enhancing economic efficiency and fostering deeper regional and global trade relationships.

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