The Central Bank of Trinidad and Tobago reported that an International Monetary Fund (IMF) technical assistance team visited Trinidad and Tobago during 7–11 April 2025 to continue discussions on the country’s adoption of a fast payments solution modelled on India’s Unified Payments Interface (UPI), as part of broader payments system modernisation. The engagement reviewed experiences from India, Brazil, Sri Lanka, Thailand, Peru and the Maldives. Participants included the Ministry of Digital Transformation, iGovTT, Trinidad and Tobago International Financial Centre, InfoLink Services Limited, commercial banks and Central Bank departments, with online presentations from the Central Bank of Sri Lanka, the Bank of Thailand and the Monetary Authority of the Maldives. A summary of the IMF technical assistance report will be published once completed.
Central Bank of Trinidad & Tobago 2025-04-15
Central Bank of Trinidad and Tobago progresses UPI-style fast payments plans with an IMF technical assistance mission
The Central Bank of Trinidad and Tobago hosted an IMF technical assistance team to discuss adopting a fast payments solution based on India's Unified Payments Interface. The engagement included insights from India, Brazil, Sri Lanka, Thailand, Peru, and the Maldives, with participation from various local and international stakeholders. A summary of the IMF report will be published upon completion.