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The World Bank forecasts that Covid-19 will drive sub-Saharan Africa towards its first recession in 25 years. This presents an opportunity for digital currency technologies to alleviate some of the region’s economic downturn while addressing mounting health concerns. At least a dozen African governments have waived fees and established more flexible measures for opening mobile money accounts since the start of lockdowns. At the same time, remittances are trending downwards as diaspora communities run into excessive fees and skittish money transfer operators using over-compliance measures.
What policy decisions are necessary to establish an enabling environment for digital currency platforms in sub-Saharan Africa and the developed world? How should governments integrate digital currency systems with formal banking institutions, tech platforms, and mobile phone operators—contributing to a new, more affordable, and inclusive system? The Africa Program invites you to join us on August 18 from 9-10 am EDT for a discussion on the opportunities and challenges in digital currency technologies in sub-Saharan Africa during a global pandemic.
ORGANIZER: Center for Strategic & International Studies
WEBSITE: https://www.csis.org/events/online-event-digital-currency-and-remittances-time-covid-19