Virtual currencies and central banks monetary policy: Challenges ahead

Summary

The digitalization of economic activities is rapidly advancing, with all countries needing to adopt policies for effective participation in e-commerce. Least Developed Countries (LDCs) face unique challenges and show growing interest in assessing their e-commerce readiness. The UNCTAD Programme on Rapid eTrade Readiness Assessment (eT Ready) aims to evaluate e-commerce ecosystems in these countries, identifying opportunities, barriers, and supportive policy measures. Over the past two years, 30 of 47 LDCs have sought these assessments, with 17 completed and eight underway.

Findings indicate that LDCs are generally unprepared to fully leverage digitalization benefits. Enhanced cooperation between development partners and governments is essential for implementing the assessments’ recommendations. The 2019 Stock-taking Workshop during UNCTAD eCommerce Week highlighted lessons learned and proposed actionable blueprints for progress. The note summarizes the key findings and recommendations from the assessments, supported by contributions from governments and organizations like Germany, Sweden, Australia, EIF, ITFC, and eTrade for all partners. The eT Ready Programme is part of the eTrade for all initiative, which provides information on e-commerce capacity-building programs, contributing to inclusive global trade.