World Bank executives: Stabilizing coins or helping to reduce global remittance costs

Alfonso Garcia Mora, head of global finance at the World Bank, mentioned the importance of stable currency in an interview with Bloomberg and said it could play an important role in “financial inclusion” related to cross-border payments and remittances. The current remittance cost is 7%, and Mora said that one of the sustainable development goals of the world economy is to reduce it to 3%, and stable currency may be the answer. Although Mora accepted the idea of ​​stabilizing the currency, he stressed that the ecosystem is still a very new concept that needs to be fully defined to avoid significant risks. Regarding Libra, he admits that this is a "great innovation," but he questions whether it can achieve all of Libra's original goals.