CBDCs in emerging market economies

Sally Chen, Tirupam Goel, Han Qiu and Ilhyock Shim

No 123 in BIS Papers from Bank for International Settlements

Abstract: In recent years, emerging market economy (EME) central banks have increasingly engaged in projects related to central bank digital currencies (CBDCs). The stage of their engagement – research, pilot or launch – varies according to differences in country circumstances, including the availability of digital infrastructure, their focus among different policy objectives, and the attendant motivations and concerns. This volume contains papers that were prepared for a meeting of Deputy Governors of central banks from EMEs, which took place on 9–10 February 2022 and explored issues such as: the main objectives of introducing CBDCs; the guiding principles of CBDC design and data governance; challenges of CBDCs for monetary policy, financial intermediation and financial stability; the implications of CBDCs on financial inclusion; and the cross-border aspects of CBDCs. Discussions at the meeting also drew on insights from a survey on the roles of and considerations for CBDCs in EMEs.

Date: 2022 Written 2022-04
ISBN: 978-92-9259-549-4
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.bis.org/publ/bppdf/bispap123.pdf Full PDF document (application/pdf)
http://www.bis.org/publ/bppdf/bispap123.htm (text/html)

Chapters in this book:

CBDCs in emerging market economies , pp 1-21

Sally Chen, Tirupam Goel, Han Qiu and Ilhyock Shim

Central bank digital currencies in emerging market economies: a view from Latin America , pp 23-30

Central Bank of Argentina

Initial steps towards a central bank digital currency by the Central Bank of Brazil , pp 31-37

Fabio Araujo

The Central Bank of Chile´s approach to retail CBDC , pp 39-43

Central Bank of Chile

E-CNY: main objectives, guiding principles and inclusion considerations , pp 45-48

The People's Bank of China

Some thoughts about the issuance of a retail CBDC in Colombia , pp 49-64

Hernando Vargas-Herrera

Are there relevant reasons to introduce a retail CBDC in the Czech Republic from the perspective of the payment system? , pp 65-73

Michal Vodrážka, Tomáš Bízek and Martin Vojta

Three principles guiding the design of the HKMA’s proposed retail central bank digital currency architecture , pp 75-78

Hong Kong Monetary Authority (hkma)

CBDC – an opportunity to support digital financial inclusion: Digital Student Safe in Hungary , pp 79-87

Péter Fáykiss, Ádám Nyikes and Anikó Szombati

Central bank digital currencies (CBDCs) in emerging market economies (EMEs) − India , pp 89-93

Reserve Bank of India

CBDCs in emerging market economies – a short note by Bank Indonesia , pp 95-98

Bank Indonesia

What is an optimal CBDC strategy for small economies? , pp 99-106

Yoav Soffer and Andrew Abir

The Bank of Korea’s CBDC research: current status and key considerations , pp 107-115

Joonsuk Bae

CBDCs in emerging market economies (EMEs) – Malaysia’s perspective , pp 117-124

Bank Negara Malaysia

Policy considerations on central bank digital currencies for emerging market economies − Mexico , pp 125-129

Bank of Mexico

Assessing CBDC potential for developing payment systems and promoting financial inclusion in Peru , pp 131-151

Adrián Armas, Lucero Ruiz and José Luis Vásquez

Deliberations of an emerging market economy central bank on central bank digital currencies , pp 153-160

Francisco G Dakila, Jr

Evaluation of the rationale for the potential introduction of central bank digital currency in Poland , pp 161-165

Marta Kightley, Renata Żak and Marta Dulinicz

CBDCs in emerging market economies , pp 167-171

Central Bank of the Russian Federation

CBDC and its associated motivations and challenges – Saudi Central Bank , pp 173-177

Saudi Central Bank

Economic considerations for a retail CBDC in Singapore , pp 179-183

Monetary Authority of Singapore

CBDCs in emerging market economies , pp 185-188

South African Reserve Bank

Hands-on CBDC experiments and considerations – a view from the Bank of Thailand , pp 189-192

Vachira Arromdee and Tunyathon Koonprasert

View on CBDCs − Central Bank of the Republic of Türkiye , pp 193-196

Central Bank of the Republic of Türkiye

CBDCs in emerging market economies , pp 197-202

Central Bank of the United Arab Emirates

Related works:
Chapter: CBDCs in emerging market economies (2022)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bis:bisbps:123

Access Statistics for this book

More books in BIS Papers from Bank for International Settlements Contact information at EDIRC.
Bibliographic data for series maintained by Martin Fessler ().