G20 Roadmap for Enhancing Cross-border Payments: Consolidated progress report for 2023
The Roadmap’s actions are focused on practical projects to reach the G20 targets, which are ambitious but achievable.
The cross-border payments programme has moved into the next phase of action and practical improvements.
This report sets out the key insights from the Key Performance Indicators (KPIs) monitoring report that was published alongside this report; the progress that has been made on priority actions set out in the update of the Cross-border Payments Roadmap endorsed by the G20 earlier this year; and some examples of concrete improvements that have been made or that are in progress.
There are encouraging signs of progress, and the KPIs provide some clear indications of where investment and action by the public and the private sector could make the most significant contribution to achieving the targets. Good progress has also been made at putting in place the structures to encourage and facilitate the necessary action by both the public and private sectors, without which the targets will not be met. But there is a considerable distance to go and more needs to be done across all of the key areas for action.
Achievement of the targets will require collaboration and engagement between and beyond the G20. If the relevant actors take the necessary actions, through the public and private sector working together the Roadmap goals can be achieved and we can realise the broad benefits that will come from enhanced cross-border payments.