I do believe that the roadmap that we paved will lift financial skills of the citizens and the level of their inclusion, making them cognizant of all the possibilities, but of the potential threats as well. The importance of financial literacy does have enduring origins, yet it gained prominence after the global financial crisis. Unfortunately, it was a bitter way of learning how low level of financial literacy and risk awareness can contribute to a large-scale financial crisis. Of course, there is no single cause or a single player in conceiving a crisis. So was the case with this one as well. But in this crisis episode, the illiteracy played an important role. In the United States, “the development of a speculative bubble and its burst was also due to the reckless financial behaviours of households, including the most vulnerable ones who contracted mortgages they should not have subscribed considering their financial situation. Actually, individuals were often not aware of the risks they were exposed to”. It collapsed the U.S. financial system, and given the tight financial linkages, it led to a worldwide financial and economic crisis. Another example was the widespread practice in CESSE of borrowing in foreign currency, while repaying in domestic, with adverse implications for households when currencies appreciated. In some countries, individuals undertook investment risk as well, by investing in high-risk, structured products, that they did not understand. Financial illiteracy was even a trigger for irrational exuberance, with deposit withdrawal occurring on the backdrop of ungrounded causes in some countries.

Therefore, we do see now financial literacy and inclusion high on the global agenda. Thus, in 2010, Global Partnership for Financial Inclusion (GPFI) was established reflecting concerted global efforts that do not solely reflect the need to elevate financial education and literacy to safeguard financial stability. Much more, they are reflection of the understanding that inclusion can help to address poverty and shared prosperity by smoothing household incomes, reducing vulnerability to shocks, enhancing investments in education and health, and encouraging the growth of businesses. In fact, this is why financial inclusion is linked to at least eight of the United Nations’ 17 Sustainable Development Goals. Global efforts yielded up global improvement. Leveraging on different data sources and the latest 1/3  BIS central bankers' speeches  conclusions of the Global Partnership, several takeaways can be pinpointed. There is a rise in the financial inclusion. Globally, the share of adults holding an account at a financial institution or through a mobile money service over the years has significantly increased from 51% to 69%. In low-income economies, there are twice as many mobile money accounts than bank accounts per 1,000 adults. (IMF Financial Access Survey). Yet disparities remain. Despite this progress, 1.7 billion adults remain unbanked and inequalities persist. Women in developing countries remain 9 percentage points and globally, by 4 percentage points less likely to have an account than men. Small and medium-sized businesses are mostly excluded from formal borrowing, despite increasingly having an account at a financial service provider.