CBDC Motivations, Challenges and Design Choices- A perspective from Latin America


Wednesday 18th May


| Ludmilla Buteau Allien, Bank of the Republic of Haiti

| Dr Adolfo Sarmiento, Central Bank of Uruguay


There are many motivations for rolling out a CBDC, from achieving higher financial inclusion and higher transactional efficiency to preserving monetary sovereignty by compensating for the declining use of cash and by countering the entrance of new private forms of digital currencies. 

Each country has a different set of features and objectives that make a CBDC’s design and roll-out a tailor-made process.  Having heard about the challenge and motivation from a G7 perspective in Session #4 with the Bank of England and the Bank of Canada, we turn our attention to Latin America as we hear from Ludmilla Buteau Allien (Bank of the Republic of Haiti) and Dr Adolfo Sarmiento (Central Bank of Uruguay)


Watch the recording: 

Resources and Links


  • Seven lessons from the e-Peso pilot plan: the possibility of a Central Bank Digital Currency Read More > 
  • Evolving payment ecosystems and CBDC: An ecological approach Read More > 
  • Momentum is strengthening for CBDCs (BIS) Read more >
  • HKMA advances e-HKD exploration Read more >
  • FT: Opinion: An American CBDC is not the way to fight China’s financial might Read more >
  • IMF recommends the Bahamas ‘accelerate’ CBDC education and regulatory oversight efforts Read more >
  • Central Bank of Chile prolongs CBDC issuance plans Read more>

Session #5 Guests


 Ludmilla Buteau Allien

Assistant Director of the Department of Money and Economic Analysis, Bank of the Republic of Haiti

Ludmilla Buteau Allien is Assistant Director of the Department of Money and Economic Analysis at the Bank of the Republic of Haiti and is responsible for several publications. Ms Allien joined the BRH in 2006 after a brief stay at the Ministry of Economy and Finance (2005). Ms Allien also served as Advisor to the Executive Director representing Haiti at the IMF Executive Board (“Government Provided Advisor”) in 2008, where her contribution was described as significant.

Ms Allien specialises in applied macroeconomics, with a focus on monetary policy. Her latest publication studies the implications for monetary policy of payments system innovations in Haiti (2019). After studying at the CTPEA, she also earned a master’s degree in applied economics at Northeastern University in Boston as a Fulbright Scholar. At Northeastern, she had the opportunity to work with various international institutions, including IHS Global Insight, Banco Santander, and the World Bank. Ms Allien is pleased to be the first female Director of BRH’s Research Department in 19 years. Ms Allien is also the project manager of the digital currency project in Haiti, Bitkòb.


 Dr Adolfo Sarmiento 

Head of Economic Policy, Central Bank of Uruguay

Adolfo Sarmiento holds a PhD in Economics. He is an expert in the financial sector and payment systems (CBDC and financial innovation) and is currently Head of Economic Policy at the Central Bank of Uruguay. Adolfo also serves as an external advisor on Central Bank Digital Currency projects for the International Monetary Fund and works as a professor and researcher.


Missed our previous sessions?


You can catch up with The CBDC Broadcast on-demand. View all episodes > 

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