In the pursuit of modernizing payment systems and future-proofing central banking in the digital age, central banks worldwide are exploring Central Bank Digital Currencies (CBDCs). CBDCs, as digital liabilities of central banks, hold the potential to revolutionize cross-border transactions, reshaping the dynamics of global finance. In that regard, the intricate relationship between CBDCs, capital flow management measures (CFMs), and the evolving landscape of cross-border transactions are well worthy of exploring. CBDCs Paving the Way for Cross-Border Advancements: Cross-border payments, especially at the retail ... (full story)