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Implementing Official Dollarization, Åke Lönnberg, Luis Jácome

Implementing Official Dollarization, Åke Lönnberg, Luis Jácome
This paper identifies key aspects that countries willing to officially dollarize must necessarily address. Based on country experiences, it discusses the critical institutional bases that are necessary to unilaterally introduce a new legal tender, describes the relevant operational issues to smooth the transition toward the use of the new currency, and identifies key structural reforms that are necessary to favor the sustainability over time of this monetary regime. The paper is aimed at providing preliminary guidance to policy makers and practitioners adopting official dollarization. The paper does not take a position on how appropriate this monetary arrangement is. Experiences from adopting dollarization in Ecuador, El Salvador, Kosovo, Montenegro, and Timor-Leste are illustrated briefly
international or intergovernmental publication
Literary Form
non fiction
Main title
Implementing Official Dollarization
Nature of contents
Responsibility statement
Åke Lönnberg, Luis Jácome
Series statement
IMF Working Papers
Table Of Contents
Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Official Dollarization: Where do we Stand?; 1. Formally Dollarized Countries; 1. Key Macroeconomic Indicators in Selected Dollarized Countries; III. Implementing Unilateral Official Dollarization: Key Issues to Address; A. Institutional Issues; B. Operational Issues; IV. Key Complementary Structural Reforms; A. Fiscal Reform; B. Financial reform; C. Trade Reform; D. Labor Reform; I. Case Study: Ecuador; II. Case Study: El Salvador; III. Case Study: Kosovo; IV. Case Study: Montenegro; V. Case Study: Timor-Leste; ReferencesFootnotes
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