Technical Support for Cross-Border Payments by the IMF and World Bank

The G20 has recognized the importance of improving cross-border payments and has prioritized efforts to make them faster, cheaper, more transparent, and more inclusive. This is seen as a transformative step for citizens and economies worldwide. The Roadmap for Enhancing Cross-Border Payments, launched in 2020, is the first comprehensive international initiative to address the challenges faced by cross-border payments. It includes 11 quantitative targets set by the Financial Stability Board (FSB) to define the Roadmap’s objectives and ensure accountability.

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