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|Additional Physical Format:||Print version:
Jácome, Luis Ignacio.
Implementing official dollarization.
[Washington, D.C.] : International Monetary Fund,  c2009
|Material Type:||Document, Government publication, International government publication, Internet resource|
|Document Type:||Internet Resource, Computer File|
|All Authors / Contributors:||
Luis Ignacio Jácome; Åke Lönnberg; International Monetary Fund. Monetary and Capital Markets Department,
|ISBN:||1283555093 9781283555098 9781452782331 1452782334|
|Description:||1 online resource (31 pages) : color illustrations.|
|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; References.|
|Series Title:||IMF working paper, WP/10/106.|
|Responsibility:||prepared by Luis I. Jácome and Ake Lönnberg.|
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.
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