Colombia Analyzes Having a Central Bank Digital Currency: Villar

Colombia’s central bank is looking to “advance toward the development of a system of digital transfers,” said central bank governor Leonardo Villar during a banking event in Cartagena.

• Analyzing the convenience of having or not a central bank digital currency
• Bank carried out an event this month where experiences from other countries were shared
  • Brazil’s instant-payments platform Pix seen as a good example
• The central bank needs to maintain credibility; expectations show a long period before Colombia returns to its 3% inflation target
• Colombia imports rising as demand outpaces production
• Loan portfolio growing at fast pace

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