Financial education has become an important complement to market conduct and prudential regulation and improving individual financial behaviours a long-term policy priority in many countries. The OECD and its International Network on Financial Education (INFE) conducts research and develops tools to support policy makers and public authorities to design and implement national strategies for financial education.
At their summit in June 2012, G20 Leaders endorsed the High-level Principles on National Strategies for Financial Education developed by the OECD and its International Network on Financial Education (INFE). In February 2013, G20 Finance Ministers and Central Bank Governors confirmed their interest in these issues and called for the OECD, under the aegis of the Russia’s G20 presidency, to prepare a progress report on the development of national strategies.
The resulting joint publication by Russia’s G20 Presidency and the OECD titled Advancing National Strategies for Financial Education monitors progress by the governments of the world’s major economies in implementing national strategies for improving financial education. This study was launched by Russian Finance Minister Anton Siluanov and OECD Secretary-General Angel Gurría at the G20 Summit in Saint Petersburg on 5 September 2013.
A further progress report was circulated to ministers and central bank governors at the G20 meetings in September 2014.
OECD-INFE High-level Principles on National Strategies for Financial Education
An increasing amount of attention and resources are being spent on financial education by governments and public authorities worldwide. As the amount of resources spent has increased, so has the importance of ensuring the efficiency and relevance of these programmes and their long term impact. In this respect, the establishment of co-ordinated and tailored strategies at national level has been widely considered to be one of the best means to achieve these efficiency goals while avoiding duplication of resources and efforts. However such national endeavours have often proved to be challenging, notably due to limited long-term commitment from stakeholders, difficult co‑operation between them, competing interests and mandates, lack of financial and in-kind resources and other implementation issues.
The High-level Principles on National Strategies for Financial Education complement the recommendations and standards already produced by the OECD and its INFE.
DOCUMENTS AND LINKS
OECD/INFE progress report to G20, September 2014
Draft Guidelines for private and not-for-profit stakeholders in financial education (2014)
Financial Education for Youth (2014)
Advancing National Strategies for Financial Education, A Joint Publication by Russia's G20 Presidency and the OECD (2013)
OECD/INFE High-level Principles on National Strategies for Financial Education (pdf)
Financial Education in Latin America and the Caribbean | La educación financiera en América Latina y el Caribe (2013)
The Status of Financial Education in Africa (2012)
Current Status of National Strategies for Financial Education: A Comparative Analysis and Relevant Practices (2012)
OECD Recommendation on Principles and Good Practices for Financial Education and Awareness, 2005 (pdf)
International Gateway for Financial Education
For further information
Ms. Flore-Anne Messy
Tel: +33 1 45249656