Currency Issuance & Digital Money — National Capability Index

Indicators

The measures seeded for this capability in the framework. They are candidate indicators: no cell in the index has a source document attached to it yet.

central bank digital currency status
instant payment scheme adoption
currency in circulation to GDP

Band spread across 197 nations

Frontier 2

Advanced 22

Established 32

Transitional 28

Foundational 55

Nascent 47

Inception 11

All 197 nations

Best first. The score is the mean of the four adjudicators' round-3 integers, rounded to the nearest integer; ±SD is their spread on that cell. Where the spread is three points or more, read the number as a band rather than a value.

#	Nation	Region	Score	Band	Panel SD
1	🇨🇳China	Asia Pacific	18	Frontier	±0.43
2	🇸🇬Singapore	Asia Pacific	18	Frontier	±0.00
3	🇧🇷Brazil	Americas	17	Advanced	±0.43
4	🇮🇳India	Asia Pacific	17	Advanced	±0.43
5	🇯🇵Japan	Asia Pacific	17	Advanced	±0.50
6	🇸🇪Sweden	Europe	17	Advanced	±0.43
7	🇨🇭Switzerland	Europe	17	Advanced	±0.71
8	🇬🇧United Kingdom	Europe	17	Advanced	±0.83
9	🇺🇸United States	Americas	17	Advanced	±0.83
10	🇦🇺Australia	Asia Pacific	16	Advanced	±0.50
11	🇨🇦Canada	Americas	16	Advanced	±0.50
12	🇫🇷France	Europe	16	Advanced	±0.83
13	🇩🇪Germany	Europe	16	Advanced	±0.83
14	🇳🇱Netherlands	Europe	16	Advanced	±0.71
15	🇳🇴Norway	Europe	16	Advanced	±0.43
16	🇰🇷South Korea	Asia Pacific	16	Advanced	±0.43
17	🇦🇪United Arab Emirates	Middle East	16	Advanced	±0.50
18	🇦🇹Austria	Europe	15	Advanced	±0.50
19	🇧🇪Belgium	Europe	15	Advanced	±0.50
20	🇩🇰Denmark	Europe	15	Advanced	±0.43
21	🇫🇮Finland	Europe	15	Advanced	±0.71
22	🇷🇺Russia	Europe	15	Advanced	±0.43
23	🇹🇼Taiwan	Asia Pacific	15	Advanced	±0.50
24	🇹🇭Thailand	Asia Pacific	15	Advanced	±0.00
25	🇪🇪Estonia	Europe	14	Established	±0.50
26	🇮🇱Israel	Middle East	14	Established	±0.43
27	🇮🇹Italy	Europe	14	Established	±0.43
28	🇱🇹Lithuania	Europe	14	Established	±0.50
29	🇱🇺Luxembourg	Europe	14	Established	±0.71
30	🇲🇾Malaysia	Asia Pacific	14	Established	±0.43
31	🇲🇽Mexico	Americas	14	Established	±0.50
32	🇳🇿New Zealand	Asia Pacific	14	Established	±0.83
33	🇵🇱Poland	Europe	14	Established	±0.00
34	🇵🇹Portugal	Europe	14	Established	±0.50
35	🇸🇦Saudi Arabia	Middle East	14	Established	±0.43
36	🇿🇦South Africa	Africa	14	Established	±0.50
37	🇪🇸Spain	Europe	14	Established	±0.43
38	🇨🇿Czechia	Europe	13	Established	±0.00
39	🇮🇩Indonesia	Asia Pacific	13	Established	±0.43
40	🇮🇪Ireland	Europe	13	Established	±0.43
41	🇰🇪Kenya	Africa	13	Established	±0.50
42	🇲🇹Malta	Europe	13	Established	±0.50
43	🇹🇷Türkiye	Middle East	13	Established	±0.43
44	🇨🇱Chile	Americas	12	Established	±0.43
45	🇨🇷Costa Rica	Americas	12	Established	±0.50
46	🇭🇷Croatia	Europe	12	Established	±0.43
47	🇬🇷Greece	Europe	12	Established	±0.50
48	🇭🇺Hungary	Europe	12	Established	±0.00
49	🇮🇸Iceland	Europe	12	Established	±0.43
50	🇱🇻Latvia	Europe	12	Established	±0.43
51	🇲🇺Mauritius	Africa	12	Established	±0.50
52	🇵🇭Philippines	Asia Pacific	12	Established	±0.50
53	🇶🇦Qatar	Middle East	12	Established	±0.43
54	🇸🇰Slovakia	Europe	12	Established	±0.43
55	🇸🇮Slovenia	Europe	12	Established	±0.00
56	🇻🇳Vietnam	Asia Pacific	12	Established	±0.50
57	🇧🇸Bahamas	Americas	11	Transitional	±1.09
58	🇧🇭Bahrain	Middle East	11	Transitional	±0.00
59	🇧🇬Bulgaria	Europe	11	Transitional	±0.43
60	🇰🇭Cambodia	Asia Pacific	11	Transitional	±1.64
61	🇨🇴Colombia	Americas	11	Transitional	±0.00
62	🇨🇾Cyprus	Middle East	11	Transitional	±0.43
63	🇰🇿Kazakhstan	Asia Pacific	11	Transitional	±0.43
64	🇰🇼Kuwait	Middle East	11	Transitional	±0.50
65	🇳🇬Nigeria	Africa	11	Transitional	±0.43
66	🇵🇪Peru	Americas	11	Transitional	±0.43
67	🇷🇴Romania	Europe	11	Transitional	±0.43
68	🇷🇸Serbia	Europe	11	Transitional	±0.00
69	🇪🇬Egypt	Africa	10	Transitional	±0.00
70	🇬🇭Ghana	Africa	10	Transitional	±0.43
71	🇲🇦Morocco	Africa	10	Transitional	±0.00
72	🇴🇲Oman	Middle East	10	Transitional	±0.43
73	🇱🇰Sri Lanka	Asia Pacific	10	Transitional	±0.50
74	🇹🇿Tanzania	Africa	10	Transitional	±0.50
75	🇺🇦Ukraine	Europe	10	Transitional	±0.43
76	🇺🇾Uruguay	Americas	10	Transitional	±0.71
77	🇦🇷Argentina	Americas	9	Transitional	±0.43
78	🇧🇩Bangladesh	Asia Pacific	9	Transitional	±0.43
79	🇩🇴Dominican Republic	Americas	9	Transitional	±0.43
80	🇬🇪Georgia	Middle East	9	Transitional	±0.00
81	🇯🇲Jamaica	Americas	9	Transitional	±0.71
82	🇯🇴Jordan	Middle East	9	Transitional	±0.50
83	🇵🇰Pakistan	Asia Pacific	9	Transitional	±0.00
84	🇷🇼Rwanda	Africa	9	Transitional	±0.50
85	🇦🇿Azerbaijan	Middle East	8	Foundational	±0.43
86	🇧🇼Botswana	Africa	8	Foundational	±0.50
87	🇧🇳Brunei	Asia Pacific	8	Foundational	±0.50
88	🇪🇹Ethiopia	Africa	8	Foundational	±0.00
89	🇮🇷Iran	Asia Pacific	8	Foundational	±0.00
90	🇲🇩Moldova	Europe	8	Foundational	±0.43
91	🇲🇳Mongolia	Asia Pacific	8	Foundational	±0.43
92	🇳🇦Namibia	Africa	8	Foundational	±0.43
93	🇳🇵Nepal	Asia Pacific	8	Foundational	±0.43
94	🇲🇰North Macedonia	Europe	8	Foundational	±0.43
95	🇵🇾Paraguay	Americas	8	Foundational	±0.00
96	🇸🇳Senegal	Africa	8	Foundational	±0.83
97	🇹🇹Trinidad & Tobago	Americas	8	Foundational	±0.50
98	🇺🇬Uganda	Africa	8	Foundational	±0.43
99	🇦🇱Albania	Europe	7	Foundational	±0.00
100	🇦🇬Antigua & Barbuda	Americas	7	Foundational	±0.50
101	🇦🇲Armenia	Middle East	7	Foundational	±0.00
102	🇧🇧Barbados	Americas	7	Foundational	±0.00
103	🇧🇾Belarus	Europe	7	Foundational	±0.43
104	🇧🇦Bosnia & Herzegovina	Europe	7	Foundational	±0.50
105	🇨🇮Côte d'Ivoire	Africa	7	Foundational	±0.43
106	🇬🇹Guatemala	Americas	7	Foundational	±0.00
107	🇰🇬Kyrgyzstan	Asia Pacific	7	Foundational	±0.50
108	🇲🇻Maldives	Asia Pacific	7	Foundational	±0.50
109	🇲🇨Monaco	Europe	7	Foundational	±1.73
110	🇸🇨Seychelles	Africa	7	Foundational	±0.43
111	🇹🇳Tunisia	Africa	7	Foundational	±0.43
112	🇺🇿Uzbekistan	Asia Pacific	7	Foundational	±0.43
113	🇿🇲Zambia	Africa	7	Foundational	±0.00
114	🇩🇿Algeria	Africa	6	Foundational	±0.43
115	🇦🇴Angola	Africa	6	Foundational	±0.00
116	🇧🇿Belize	Americas	6	Foundational	±0.50
117	🇧🇯Benin	Africa	6	Foundational	±0.43
118	🇧🇹Bhutan	Asia Pacific	6	Foundational	±0.00
119	🇧🇴Bolivia	Americas	6	Foundational	±0.00
120	🇨🇻Cabo Verde	Africa	6	Foundational	±0.43
121	🇨🇲Cameroon	Africa	6	Foundational	±0.50
122	🇩🇲Dominica	Americas	6	Foundational	±0.43
123	🇸🇿Eswatini	Africa	6	Foundational	±0.50
124	🇫🇯Fiji	Asia Pacific	6	Foundational	±0.00
125	🇬🇩Grenada	Americas	6	Foundational	±0.43
126	🇬🇾Guyana	Americas	6	Foundational	±0.50
127	🇭🇳Honduras	Americas	6	Foundational	±0.00
128	🇮🇶Iraq	Middle East	6	Foundational	±0.50
129	🇲🇬Madagascar	Africa	6	Foundational	±0.43
130	🇲🇼Malawi	Africa	6	Foundational	±0.50
131	🇲🇪Montenegro	Europe	6	Foundational	±2.35
132	🇲🇿Mozambique	Africa	6	Foundational	±0.00
133	🇳🇮Nicaragua	Americas	6	Foundational	±0.43
134	🇵🇬Papua New Guinea	Asia Pacific	6	Foundational	±0.50
135	🇰🇳Saint Kitts & Nevis	Americas	6	Foundational	±0.43
136	🇱🇨Saint Lucia	Americas	6	Foundational	±0.43
137	🇻🇨Saint Vincent & Grenadines	Americas	6	Foundational	±0.43
138	🇸🇲San Marino	Europe	6	Foundational	±1.50
139	🇹🇬Togo	Africa	6	Foundational	±0.50
140	🇦🇩Andorra	Europe	5	Nascent	±0.87
141	🇧🇫Burkina Faso	Africa	5	Nascent	±0.00
142	🇪🇨Ecuador	Americas	5	Nascent	±1.30
143	🇸🇻El Salvador	Americas	5	Nascent	±0.87
144	🇬🇦Gabon	Africa	5	Nascent	±0.00
145	🇬🇲Gambia	Africa	5	Nascent	±0.50
146	🇱🇦Laos	Asia Pacific	5	Nascent	±0.43
147	🇱🇧Lebanon	Middle East	5	Nascent	±0.87
148	🇱🇸Lesotho	Africa	5	Nascent	±0.00
149	🇱🇮Liechtenstein	Europe	5	Nascent	±1.23
150	🇲🇱Mali	Africa	5	Nascent	±0.00
151	🇲🇷Mauritania	Africa	5	Nascent	±0.00
152	🇲🇲Myanmar	Asia Pacific	5	Nascent	±0.43
153	🇵🇦Panama	Americas	5	Nascent	±2.17
154	🇼🇸Samoa	Asia Pacific	5	Nascent	±0.00
155	🇸🇹São Tomé & Príncipe	Africa	5	Nascent	±0.50
156	🇸🇱Sierra Leone	Africa	5	Nascent	±0.00
157	🇸🇧Solomon Islands	Asia Pacific	5	Nascent	±0.43
158	🇸🇷Suriname	Americas	5	Nascent	±0.00
159	🇹🇯Tajikistan	Asia Pacific	5	Nascent	±0.00
160	🇹🇴Tonga	Asia Pacific	5	Nascent	±0.50
161	🇧🇮Burundi	Africa	4	Nascent	±0.43
162	🇨🇬Congo	Africa	4	Nascent	±0.00
163	🇨🇺Cuba	Americas	4	Nascent	±0.43
164	🇩🇯Djibouti	Africa	4	Nascent	±0.00
165	🇨🇩DR Congo	Africa	4	Nascent	±0.43
166	🇬🇶Equatorial Guinea	Africa	4	Nascent	±0.00
167	🇬🇳Guinea	Africa	4	Nascent	±0.00
168	🇽🇰Kosovo	Europe	4	Nascent	±1.64
169	🇱🇷Liberia	Africa	4	Nascent	±0.00
170	🇱🇾Libya	Africa	4	Nascent	±0.00
171	🇳🇪Niger	Africa	4	Nascent	±0.43
172	🇰🇵North Korea	Asia Pacific	4	Nascent	±0.50
173	🇹🇲Turkmenistan	Asia Pacific	4	Nascent	±0.43
174	🇻🇺Vanuatu	Asia Pacific	4	Nascent	±0.43
175	🇻🇪Venezuela	Americas	4	Nascent	±0.43
176	🇿🇼Zimbabwe	Africa	4	Nascent	±0.43
177	🇨🇫Central African Rep.	Africa	3	Nascent	±0.43
178	🇹🇩Chad	Africa	3	Nascent	±0.43
179	🇰🇲Comoros	Africa	3	Nascent	±0.00
180	🇬🇼Guinea-Bissau	Africa	3	Nascent	±0.00
181	🇭🇹Haiti	Americas	3	Nascent	±0.00
182	🇵🇼Palau	Asia Pacific	3	Nascent	±0.43
183	🇵🇸Palestine	Middle East	3	Nascent	±0.83
184	🇸🇴Somalia	Africa	3	Nascent	±0.43
185	🇸🇩Sudan	Africa	3	Nascent	±0.43
186	🇹🇱Timor-Leste	Asia Pacific	3	Nascent	±0.43
187	🇦🇫Afghanistan	Asia Pacific	2	Inception	±0.43
188	🇪🇷Eritrea	Africa	2	Inception	±0.00
189	🇰🇮Kiribati	Asia Pacific	2	Inception	±0.71
190	🇲🇭Marshall Islands	Asia Pacific	2	Inception	±0.71
191	🇫🇲Micronesia	Asia Pacific	2	Inception	±0.43
192	🇸🇸South Sudan	Africa	2	Inception	±0.00
193	🇸🇾Syria	Middle East	2	Inception	±0.00
194	🇹🇻Tuvalu	Asia Pacific	2	Inception	±0.71
195	🇾🇪Yemen	Middle East	2	Inception	±0.00
196	🇻🇦Holy See	Europe	1	Inception	±0.71
197	🇳🇷Nauru	Asia Pacific	1	Inception	±0.83

Others in Monetary & Currency Capability

Capability	World mean	Range	Leader
Monetary Policy & Price Stability	8.5	1–19	United States
Exchange Rate & External Account Management	8.7	1–20	United States