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flag Global financial leaders likely won’t meet 2027 goals for faster, cheaper cross-border payments due to infrastructure and regulatory hurdles.

flag Global financial authorities are unlikely to meet the G20’s 2027 target for faster, cheaper, and more transparent cross-border payments, the Financial Stability Board reports. flag While progress has been made in wholesale payment speed and remittance times, average costs remain high and transparency has not improved significantly. flag Challenges include outdated infrastructure, differing national regulations, and difficulties coordinating across jurisdictions. flag The FSB warns that without stronger domestic payment system reforms and greater public-private collaboration, the goals may not be achieved, prompting calls for a decision on whether to extend the deadline or set new targets.

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