Jeff Alvares

Jeff Alvares is senior counsel at the Central Bank of Brazil, leading legal and policy work on financial regulation, fintech, and payments. He previously served at the Financial Stability Board, directing the G20 Cross-Border Payments Roadmap. With nearly two decades in financial law and policy, he helped design regulatory frameworks at the International Monetary Fund and World Bank. A graduate of Harvard Law School and University of São Paulo, he writes at jeffalvares.com.

How To Design CBDCs for an Open World Economy

Countries representing 98% of global GDP are exploring central bank digital currencies. They must devise digital infrastructure to maximize competition, writes Jeff Alvares.

What Brazil’s Pix Reveals About WTO Rules for the Platform Economy

In the second of two articles, Jeff Alvares analyzes the competing arguments around Pix under World Trade Organization rules—a debate involving broader questions about how international trade rules need to reflect the complexity of public services in the digital economy.

The Political Economy of Brazil’s Pix Payment System

In the first of two articles, Jeff Alvares explores how Brazil’s public digital payments system achieved transformative financial inclusion through vertically integrated infrastructure, creating a model now facing scrutiny under international trade law and raising questions about the boundaries of legitimate public infrastructure provision.

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