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Peru to Improve Its Financial System With a CBDC

In a report, the Central Reserve Bank of Peru (CRBP) outlines the benefits of a central bank digital currency (CBDC) to improve the national financial system.

By Luc Vesters
• 1 min read
Peru to Improve Its Financial System With a CBDC

In a report presents the Central Reserve Bank of Peru (CRBP) the benefits of a central bank digital currency (CBDC) to improve the national financial system.

In the report, for example, it states: "The goal of a CBDC as part of Peru's payment system is to give the non-banked population access to digital payments." The International Monetary Fund (IMF) helped prepare the report. So far there is no timetable for the development of digital central bank money.

About half of Peru's population does not have a bank account. In addition, 79 percent of people have no savings, according to the CRBP. Far from the Andes, many developing countries, including El Salvador, face similar problems. The small state on the Pacific coast, however, relies on Bitcoin instead of a CBDC.

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