It holds out the prospect of spreading growth and prosperity to millions more. This process is also very much in our own interest in the United States and Canada, since it will allow us to develop larger markets, leading to greater innovation and efficiency, along with increased productivity and incomes.
This framework is aimed at keeping the Central Bank abreast of developments and to leverage lessons that can be learnt from other emerging-market economies that have made greater progress in many respects. For example, India has biometric identification cards linked to e-accounts and in Kenya, social security benefits are received on smart phones.