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Most Jamaicans Will Be Using Digital Money by 2027, Prime Minister Says

  • Digital money will boost financial inclusion, PM Holness says
  • Nation’s digital currency to be rolled out in the coming weeks
Andrew Holness

Andrew Holness

Photographer: Christopher Goodney/Bloomberg

Jamaican Prime Minister Andrew Holness expects more than 70% the population to be using the country’s digital currency within five years, as the central bank rolls out the e-money nationally during the first quarter of 2022. 

In an interview with Bloomberg TV Friday, Holness said the central bank digital currency, or CBDC, will reduce banking costs, bring more people into the formal financial system and ensure greater government accountability, as makes it easier to track public resources.