Peru: Technical Assistance Report-Central Bank Digital Currency (CBDC) Stakeholder Engagement

International Monetary Fund

No 2023/358, IMF Staff Country Reports from International Monetary Fund

Abstract: This Technical Assistance Report on Peru focuses on Central Bank Digital Currency (CBDC) Stakeholder Engagement. Consistent with recommendations from the first mission, the BCRP recognized the need to focus on an initial engagement with stakeholders, including representatives of the banking sector, payment service providers, and the Fintech and technology sector. The Banco Central de Reserva del Perú (BCRP) initiated a questionnaire based on the white paper to gather initial feedback, expectations, and concerns from the industry. The mission team provided a list of recommendations to enhance the BCRP's ability to continue its research and make an informed decision about moving into the development phase. The first set of recommendations focuses on adopting inclusive, agile, and transparent project management practices and governance. The second set aims to establish the central bank’s role in leading a “baseline product” with market participants. The final set of recommendations urges the central bank to view the CBDC as a national product and leverage existing elements and participants at the government level.

Keywords: CBDC project; stakeholder engagement; BCRP counterpart; CBDC journey; request of the Banco Central de Reserva del Peru; Central Bank digital currencies; Digital financial services; Payment systems; Infrastructure; Financial inclusion; Global (search for similar items in EconPapers)
Pages: 38
Date: 2023-11-03
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