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Dollarization in Sub-Saharan Africa:Experiences and Lessons

Mauro Mecagni, Juan S Corrales, Jemma Dridi




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 | #2615902 in eBooks |  2015-05-15 |  2015-05-15 | File type: PDF

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Dollarization—the use of foreign currencies as a medium of exchange, store of value, or unit of account—is a notable feature of financial development under macroeconomically fragile conditions. It has emerged as a key factor explaining vulnerabilities and currency crises, which have long been observed in Latin America, parts of Asia, and Eastern Europe. Dollarization is also present, prominently, in sub-Saharan Africa (SSA) where it remains significant and pe...

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