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Advances made in digital money can help reshape cross-border payments and remittances making them “easier, faster and cheaper”, Kristalina Georgieva, managing director of the International Monetary Fund, said.
Divergences in access to vaccines, in recoveries from the pandemic and access to a digital future are challenges the world must address, Ms Georgieva said at a virtual workshop on how digital money can facilitate remittances.
Remittances have played a key role in improving the lives of people in developing economies and supporting economic activity, and can benefit from the "revolution" in digital money, she said.
With the risk of a growing digital divide between rich and poor countries, we must ensure that all countries can benefit from the latest innovations in digital money and payments, particularly remittances