According to data gleaned from the IMF website, Jamaica is only one of three countries to have officially launched CBDC’s. The other two countries are the Bahamas and Nigeria. More than 100 countries are still in the exploration stage, including Brazil, China, the euro area, India, and the United Kingdom. The IMF has launched a virtual CBDC Handbook to collect and share knowledge with policymakers around the world, and to serve as a basis for the bank’s engagement with country authorities.
In an article published in June 2021 on the IMF website, it was noted that access to digital money and phone-based transaction could open the door to financial services for the estimated 1.7 billion people who have not signed up for traditional bank accounts. It will also enable countries to become increasingly connected, thereby facilitating trade and market integration.
“In some countries the case seems dim today, but even they should remain open to potentially deploy CBDCs tomorrow. Why?” said Georgieva. “This is not the time to turn back.”
“The public sector should keep preparing to deploy CBDCs and related payment platforms in the future,” she was quoted as saying by CNBC.
