New, Global Network to Enhance Study of Financial Literacy and Personal Finance to Help the Hardest Hit by the COVID-19 Pandemic

WASHINGTON (December 9, 2021) – With families and nations scrambling to hang on during the economic
rollercoaster of the COVID-19 pandemic, more than 50 top researchers from around the world are coming
together in the G53 Financial Literacy and Personal Finance Research Network. The new group aims to
expedite research and solutions that can help people strap on their seatbelts and be better prepared for
financial crises, big and small.

“The pandemic has illuminated the pain of financial distress and people need to develop antibodies not just
against the virus, but also against financial fragility,” said Annamaria Lusardi, co-founder of the new network
and University Professor and Academic Director of the George Washington University’s Global Financial
Literacy Excellence Center (GFLEC), which will house the new G53 Network.

The initiative brings together the best researchers in the field of financial literacy and personal finance to
facilitate the exchange of ideas, promote evidence-based research, and inform policy makers and the private

The group refers to itself as the G53 Network in recognition of the academic code – G53 – that represents the
field of financial literacy. Fittingly, the network launches with 53 founding members from around the world.
“From changes in demographics to changes in financial markets to the onset of the pandemic, we’ve seen
how critical it is to have basic skills to navigate both expected and unanticipated events,” said G53 Network
co-chair Panu Kalmi, professor of economics and vice dean at the School of Accounting and Finance at
Finland’s University of Vaasa. “

G53 Network Press Release

Professor Annamaria Lusardi is a member of DigiConsumer Advisory Board.

Professor Panu Kalmi Leader in DigiConsumer Work Package “Game-based approaches and digital tools in financial education”