Governors differ on cross-border payments
Officials from Europe, Africa and Asia diverge over whether bilateral or multilateral links are best
Central bankers at the International Monetary Fund (IMF) and World Bank annual meeting yesterday (October 22) disagreed on whether fast cross-border payment links should be bilateral or multilateral.
Andréa Maechler, deputy general manager at the Bank for International Settlements, said multilateral links should be prioritised because this would make negotiations simpler.
However, the governor of the Bank of Italy, Fabio Panetta, said that although bilateral arrangements would increase the number
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