The post Financial Inclusion Remains a Challenge forCentral America appeared first on The Costa Rica News.
42% of the population over the age of 15 has a bank account in Central America and, therefore, financial inclusion continues to be a challenge, said the World Bank. Costa Rica appears with the highest percentage, 59%, in contrast to Honduras, with 32%, and Nicaragua with 21%. The objective of financial inclusion is to guarantee access to services and products for the entire population and to achieve this there are series of strategies that countries can follow.
Expanding digital financial services
Some good practices suggest that expanding digital financial services, such as digital payment methods, can bring quick benefits in the short term. Something that Costa Rica has done with its National Electronic Payment System, the mobile Sinpe, promoted by the Central Bank, and which during the pandemic became a key element in maintaining economic activity.
“Talking about financial inclusion has become increasingly common in recent years, companies, governments, civil society, mention its importance. The United Nations even considers it as an important element for the fulfillment of the Sustainable Development Goals. However, despite the fact that the potential of financial inclusion is recognized both at the individual and country level; it is not always prioritized in our region”, highlighted Jaime García Gómez, Project Director of the Clacds/Incae Social Progress Index.
The post Financial Inclusion Remains a Challenge forCentral America appeared first on The Costa Rica News.
