Evgeny Vinokurov on digital currencies in the EAEU

03 November 2021

Evgeny Vinokurov, Chief Economist of the Eurasian Fund for Stabilization and Development with the Eurasian Development Bank, believes that the adoption of digital currencies by the central banks of the EEU countries will have a positive impact on the integration processes in the region. “The most recent studies provide evidence of positive links between digitalization and integration. A 10% growth in digitalization results in a 2% increase in volumes of trade in goods and a 3% increase for trade in services," points out the expert. High expectations are associated with the introduction of digital currencies: they should have a positive impact on the development of payment services throughout the EAEU; they may simplify financial transactions, reduce risks and overheads. All of the above should contribute to successful performance in increasing trade volumes and the formation of the EAEU common financial market.

Источник: Eurasia Expert (IA, RB)