Central Bank Digital Currencies: A Potential Response to the Financial Inclusion Challenges of the Pacific

Publication | August 2021

This policy brief considers whether central bank digital currencies (CBDCs) can promote the accessibility of financial services in Pacific island countries and the design choices involved in their development.

It notes that well-designed and implemented CBDCs could help expand financial inclusion and reduce the high cost of remittances. The authors recommend that Pacific island countries lay the groundwork for CBDCs by building specific knowledge and expertise within central banks.


  • Executive Summary
  • Introduction
  • Financial Inclusion Challenges of Pacific Island Countries
  • CBDC for Financial Inclusion: Design Choices
  • CBDCs for Financial Inclusion: The Opportunities
  • Central Bank Digital Currency for Financial Inclusion:
  • The Challenges
  • Next Steps
  • Conclusion
  • Appendix: Financial Inclusion Statistics, Selected Pacific Countries

Additional Details

  • Finance sector development
  • Financial inclusion and microfinance
  • Financial markets and institutions
  • Governance and public sector management
  • Public administration, economic affairs, and policy
  • Information and Communications Technology
  • Cook Islands
  • Fiji
  • Kiribati
  • Marshall Islands
  • Micronesia, Federated States of
  • Nauru
  • Niue
  • Palau
  • Papua New Guinea
  • Samoa
  • Solomon Islands
  • Timor-Leste
  • Tonga
  • Tuvalu
  • Vanuatu
  • 38
  • 6 x 9
  • ARM210301-2

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