Jamaica Plans to Launch Central Bank Digital Currency in 2022

Jamaica is planning to launch a central bank digital currency (CBDC) in 2022. The government views the accelerated transition to a digital society and economy as vital to economic recovery following the COVID-19 pandemic. During the annual National Budget Debate, Jamaica’s Minister of Finance has announced the CBDC will be piloted in December 2021 ahead of launch. 

The Minister of Finance also believes that a CBDC can greatly improve financial inclusion by making financial services available to the Caribbean nation’s unbanked population.