Cross-Border Payments Integration in Latin America and the Caribbean

Cross-Border Payments Integration in Latin America and the Caribbean

Author: Dimitris Drakopoulos

Publisher: International Monetary Fund

Published: 2024-06-14

Total Pages: 27

ISBN-13:

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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.


Book Synopsis Cross-Border Payments Integration in Latin America and the Caribbean by : Dimitris Drakopoulos

Download or read book Cross-Border Payments Integration in Latin America and the Caribbean written by Dimitris Drakopoulos and published by International Monetary Fund. This book was released on 2024-06-14 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Reforma Y Reestructuracion De Los Sistemas Pensiones

Reforma Y Reestructuracion De Los Sistemas Pensiones

Author:

Publisher: World Bank Publications

Published: 2007

Total Pages: 300

ISBN-13: 0821366378

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This book extracts the main lessons and experiences of the Western Hemisphere Payments and Securities Clearance and Settlement Initiative (WHI), describing trends in payments and securities settlement systems worldwide and assessing Latin American and Caribbean systems in relation to international standards and best practices.--[book cover].


Book Synopsis Reforma Y Reestructuracion De Los Sistemas Pensiones by :

Download or read book Reforma Y Reestructuracion De Los Sistemas Pensiones written by and published by World Bank Publications. This book was released on 2007 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book extracts the main lessons and experiences of the Western Hemisphere Payments and Securities Clearance and Settlement Initiative (WHI), describing trends in payments and securities settlement systems worldwide and assessing Latin American and Caribbean systems in relation to international standards and best practices.--[book cover].

Cluster Report

Cluster Report

Author: International Monetary Fund. Western Hemisphere Dept.

Publisher: International Monetary Fund

Published: 2017-03-10

Total Pages: 56

ISBN-13: 1475586019

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This cluster report takes stock of and explores opportunities for trade integration in Latin America and the Caribbean (LAC). Drawing on a set of 12 analytical studies that will be issued as working papers, the report examines the determinants of trade, explores the potential to enhance LAC’s trade integration, and assesses the associated economic and social effects. To deepen understanding of the region’s policy options and trade strategies, the report also incorporates the views of LAC country authorities based on responses to a survey. This provides an opportunity to examine the alignment of recommendations based on the analytical findings with the region’s current trade policy priorities, with the caveat that the survey was conducted between late 2015 and mid-2016, prior to the most recent developments in the global trade landscape.


Book Synopsis Cluster Report by : International Monetary Fund. Western Hemisphere Dept.

Download or read book Cluster Report written by International Monetary Fund. Western Hemisphere Dept. and published by International Monetary Fund. This book was released on 2017-03-10 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This cluster report takes stock of and explores opportunities for trade integration in Latin America and the Caribbean (LAC). Drawing on a set of 12 analytical studies that will be issued as working papers, the report examines the determinants of trade, explores the potential to enhance LAC’s trade integration, and assesses the associated economic and social effects. To deepen understanding of the region’s policy options and trade strategies, the report also incorporates the views of LAC country authorities based on responses to a survey. This provides an opportunity to examine the alignment of recommendations based on the analytical findings with the region’s current trade policy priorities, with the caveat that the survey was conducted between late 2015 and mid-2016, prior to the most recent developments in the global trade landscape.

Crypto Assets and CBDCs in Latin America and the Caribbean: Opportunities and Risks

Crypto Assets and CBDCs in Latin America and the Caribbean: Opportunities and Risks

Author: Maximiliano Appendino

Publisher: International Monetary Fund

Published: 2023-02-17

Total Pages: 42

ISBN-13:

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After providing a general overview of the nature, pros, and cons of crypto assets and CBDCs, this paper focuses on documenting their recent experience in LAC. The region records a high interest in unbacked crypto assets and stablecoins and its authorities’ policy responses have varied substantially, ranging from the introduction of Bitcoin as legal tender in El Salvador to their prohibition in many other countries worried about their impact on financial stability, currency/asset substitution, tax evasion, corruption, and money laundering. This paper also describes briefly the results of a survey on CBDCs’ introduction plans and crypto assets regulation. Finally, this paper presents some general lessons and policy recommendations for the region on the regulation of cypto assets, digital currencies and cross-border payments, and on the potential introduction of CBDCs.


Book Synopsis Crypto Assets and CBDCs in Latin America and the Caribbean: Opportunities and Risks by : Maximiliano Appendino

Download or read book Crypto Assets and CBDCs in Latin America and the Caribbean: Opportunities and Risks written by Maximiliano Appendino and published by International Monetary Fund. This book was released on 2023-02-17 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: After providing a general overview of the nature, pros, and cons of crypto assets and CBDCs, this paper focuses on documenting their recent experience in LAC. The region records a high interest in unbacked crypto assets and stablecoins and its authorities’ policy responses have varied substantially, ranging from the introduction of Bitcoin as legal tender in El Salvador to their prohibition in many other countries worried about their impact on financial stability, currency/asset substitution, tax evasion, corruption, and money laundering. This paper also describes briefly the results of a survey on CBDCs’ introduction plans and crypto assets regulation. Finally, this paper presents some general lessons and policy recommendations for the region on the regulation of cypto assets, digital currencies and cross-border payments, and on the potential introduction of CBDCs.

Fintech and Financial Inclusion in Latin America and the Caribbean

Fintech and Financial Inclusion in Latin America and the Caribbean

Author: Mr. Dmitry Gershenson

Publisher: International Monetary Fund

Published: 2021-08-20

Total Pages: 77

ISBN-13: 1513592238

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Despite some improvement since 2011, Latin America and the Caribbean continue to lag behind other regions in terms of financial inclusion. There is no clear evidence that fintech developments have supported greater financial inclusion in LAC, contrary to what has been observed elsewhere in the world. Case studies by national policy experts suggest that barriers to entry in the financial sector, along with a constraining regulatory environment, may have hindered a faster adoption of fintech. However, fintech development seems to have accelerated in the wake of the COVID-19 pandemic and with the support of recent policy initiatives.


Book Synopsis Fintech and Financial Inclusion in Latin America and the Caribbean by : Mr. Dmitry Gershenson

Download or read book Fintech and Financial Inclusion in Latin America and the Caribbean written by Mr. Dmitry Gershenson and published by International Monetary Fund. This book was released on 2021-08-20 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite some improvement since 2011, Latin America and the Caribbean continue to lag behind other regions in terms of financial inclusion. There is no clear evidence that fintech developments have supported greater financial inclusion in LAC, contrary to what has been observed elsewhere in the world. Case studies by national policy experts suggest that barriers to entry in the financial sector, along with a constraining regulatory environment, may have hindered a faster adoption of fintech. However, fintech development seems to have accelerated in the wake of the COVID-19 pandemic and with the support of recent policy initiatives.

Practices and Initiatives for the Development of Cross-border E-commerce in Latin America and the Caribbean and Its Impact in the Post-pandemic Era

Practices and Initiatives for the Development of Cross-border E-commerce in Latin America and the Caribbean and Its Impact in the Post-pandemic Era

Author: Bernardo Diaz de Astarloa

Publisher:

Published: 2023

Total Pages: 0

ISBN-13:

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Book Synopsis Practices and Initiatives for the Development of Cross-border E-commerce in Latin America and the Caribbean and Its Impact in the Post-pandemic Era by : Bernardo Diaz de Astarloa

Download or read book Practices and Initiatives for the Development of Cross-border E-commerce in Latin America and the Caribbean and Its Impact in the Post-pandemic Era written by Bernardo Diaz de Astarloa and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Connecting the Dots

Connecting the Dots

Author: Mauricio Mesquita Moreira

Publisher: Inter-American Development Bank

Published: 2018-05-29

Total Pages: 141

ISBN-13:

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What can be said of Latin America and the Caribbean's experiment with regional integration? Did it live up to the expectations? What does this experience say about the regional integration agenda moving forward? Do the tectonic changes undergone by the world economy in the last quarter of a century matter for policy design? This report offers answers to these pressing questions. It argues that while the "new regionalism" was in general effective to promote international trade, it failed to boost the region's competitiveness abroad. Fragmentation is seen as the original sin, and convergence the path to redemption. The policy recommendations offer different routes to convergence, from a cautious, cumulation of rules or origin approach to a non-stop sprint to a LAC-FTA. But they all come with a warning: in the current challenging trade environment, the benefits of caution might be too little, too late.


Book Synopsis Connecting the Dots by : Mauricio Mesquita Moreira

Download or read book Connecting the Dots written by Mauricio Mesquita Moreira and published by Inter-American Development Bank. This book was released on 2018-05-29 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: What can be said of Latin America and the Caribbean's experiment with regional integration? Did it live up to the expectations? What does this experience say about the regional integration agenda moving forward? Do the tectonic changes undergone by the world economy in the last quarter of a century matter for policy design? This report offers answers to these pressing questions. It argues that while the "new regionalism" was in general effective to promote international trade, it failed to boost the region's competitiveness abroad. Fragmentation is seen as the original sin, and convergence the path to redemption. The policy recommendations offer different routes to convergence, from a cautious, cumulation of rules or origin approach to a non-stop sprint to a LAC-FTA. But they all come with a warning: in the current challenging trade environment, the benefits of caution might be too little, too late.

Excerpt: Financial Integration in Latin America

Excerpt: Financial Integration in Latin America

Author: Mr.Charles Enoch

Publisher: International Monetary Fund

Published: 2016-09-27

Total Pages: 29

ISBN-13: 1475541473

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This paper analyzes the scope and benefits from further regionalization of domestic financial services among Latin American countries. Following the financial crises in the 1980s and early 1990s, Latin Ameri¬can countries opened up their financial markets to foreign participation. This brought in North American and European banks, which were regarded as a source of capital, expertise, and know-how, as well as an opportunity for diversification from domestic shocks. Since the global financial crisis, Latin America has been facing a rapidly changing global financial landscape. Whereas global banks were previously seen as a source of strength, policymakers need to internalize that these banks could now represent a source of weakness for domestic financial systems. Moreover, the region is currently experiencing an important economic adjustment. Rebalancing of growth in China and the end of the commodity super-cycle is putting pressure on fiscal and external sectors in several Latin American economies.


Book Synopsis Excerpt: Financial Integration in Latin America by : Mr.Charles Enoch

Download or read book Excerpt: Financial Integration in Latin America written by Mr.Charles Enoch and published by International Monetary Fund. This book was released on 2016-09-27 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the scope and benefits from further regionalization of domestic financial services among Latin American countries. Following the financial crises in the 1980s and early 1990s, Latin Ameri¬can countries opened up their financial markets to foreign participation. This brought in North American and European banks, which were regarded as a source of capital, expertise, and know-how, as well as an opportunity for diversification from domestic shocks. Since the global financial crisis, Latin America has been facing a rapidly changing global financial landscape. Whereas global banks were previously seen as a source of strength, policymakers need to internalize that these banks could now represent a source of weakness for domestic financial systems. Moreover, the region is currently experiencing an important economic adjustment. Rebalancing of growth in China and the end of the commodity super-cycle is putting pressure on fiscal and external sectors in several Latin American economies.

Instruments of Economic Integration in Latin America and in the Caribbean

Instruments of Economic Integration in Latin America and in the Caribbean

Author: Inter-American Institute of International Legal Studies

Publisher:

Published: 1975

Total Pages: 504

ISBN-13:

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An updated, expanded and thorough revision of the institute's 1968 publication, Instruments relating to the economic integration of Latin America.


Book Synopsis Instruments of Economic Integration in Latin America and in the Caribbean by : Inter-American Institute of International Legal Studies

Download or read book Instruments of Economic Integration in Latin America and in the Caribbean written by Inter-American Institute of International Legal Studies and published by . This book was released on 1975 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: An updated, expanded and thorough revision of the institute's 1968 publication, Instruments relating to the economic integration of Latin America.

Open Regionalism in Latin America and the Caribbean

Open Regionalism in Latin America and the Caribbean

Author:

Publisher:

Published: 1994

Total Pages: 120

ISBN-13:

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Book Synopsis Open Regionalism in Latin America and the Caribbean by :

Download or read book Open Regionalism in Latin America and the Caribbean written by and published by . This book was released on 1994 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: