Citi Launches New Report on Holistic Digital Policy
Latest Report advocates Digital Policy as a complement to Monetary and Fiscal Policy
Report proposes ‘third tool’ for governments to help manage economic growth and achieve sustainability goals
The report sets out a number of focus areas designed for countries and governments to assist in the process of moving to a more digital economy, including artificial intelligence (AI), inclusive finance, digital infrastructure, private sector incentives, and regulations.
It suggests that each nation state develop and implement a Holistic Digital Policy that complements monetary and fiscal goals and facilitates sustainable economic growth and inclusion.
It goes on to explain that Holistic Digital Policy also seeks to incentivise and align other stakeholders such as corporates, financial institutions, civil society and individuals to achieve the collective economic and UN Sustainable Development Goals. It outlines five focus areas that adopted alongside digital policy including digital infrastructure, data, AI and biotech, technology monopoly, and digital finance.
Sultan continues: “There is evidence that countries which have established a holistic approach to digital policy and execution have realized significant economic, social, and political benefits. These countries have also seen a thriving public private sector collaboration. That’s in addition to continuing to engage in cross-agency, cross-government, and private sector collaboration on topics such as the development of central bank digital currencies, cybersecurity, and data privacy. Ultimately, forward-thinking governments need to take decisive steps to close the gaps in digital skills, infrastructure, and research and development.”
The report goes on to highlight that to successfully adopt Digital Policy, governments should establish frameworks for global collaboration whilst pursuing long-term visons, inspired by the ESG concept of cross-stakeholder collaboration to achieve sustainable and equitable economic growth.
The digital copy of the report is available here
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