{
  "title": "Dollarization in Sub-Saharan Africa: Experiences and Lessons",
  "publication": "Departmental Papers, May 15, 2015",
  "sourceUrl": "https://www.imf.org/en/publications/departmental-papers-policy-papers/issues/2016/12/31/dollarization-in-sub-saharan-africa-experiences-and-lessons-42657",
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  "summary": "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.",
  "authors": [
    "Mauro Mecagni",
    "Juan S Corrales",
    "Jemma Dridi",
    "Rodrigo Garcia-Verdu",
    "Patrick A. Imam",
    "Justin Matz",
    "Carla Macario",
    "Rodolfo Maino",
    "Yibin Mu",
    "Ashwin Moheeput",
    "Futoshi Narita",
    "Marco Pani",
    "Manuel Rosales Torres",
    "Sebastian Weber",
    "Etienne B Yehoue"
  ],
  "publishDate": "2015-05-15",
  "series": "Departmental Papers",
  "sections": [
    {
      "heading": "Definition and context",
      "content": "- Dollarization is defined as the use of foreign currencies as a medium of exchange, store of value, or unit of account.\n- It is associated with financial development under macroeconomically fragile conditions and has been a key factor explaining vulnerabilities and currency crises in Latin America, parts of Asia, and Eastern Europe."
    },
    {
      "heading": "Prevalence and persistence in Sub-Saharan Africa (SSA)",
      "content": "- Dollarization in SSA remains significant and persistent at over 30 percent rates for both bank loans and deposits.\n- The study notes that dollarization \"has not increased significantly since 2001.\"\n- Progress in reducing dollarization in SSA has lagged behind other regions."
    },
    {
      "heading": "Purpose and scope of the study",
      "content": "- The study fills a gap in the literature by analyzing dollarization issues with specific reference to the SSA region.\n- Analysis is based on the evidence for the past decade (relative to the publication date)."
    },
    {
      "heading": "Thematic focus areas (as indicated by the source)",
      "content": "- Bank deposits\n- Currencies\n- De-dollarization\n- Dollarization (deposit and loan)\n- Financial services\n- Foreign exchange\n- Monetary policy\n- Money\n\nDollarization in Sub-Saharan Africa: Experiences and Lessons, Departmental Papers 2015, 005 (2015), May 15, 2015.\n\n---\n\n Content in this bundle\n\n- Dollarization in Sub-Saharan Africa: Experience and Lessons\n  - Dollarization in Sub-Saharan Africa: Experience and Lessons (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Dollarization in Sub-Saharan Africa: Experience and Lessons (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/departmental-papers-policy-papers/issues/2016/12/31/dollarization-in-sub-saharan-africa-experiences-and-lessons-42657"
    }
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    "Authors: Mauro Mecagni, Juan S Corrales, Jemma Dridi, Rodrigo Garcia-Verdu, Patrick A. Imam, Justin Matz, Carla Macario, Rodolfo Maino, Yibin Mu, Ashwin Moheeput, Futoshi Narita, Marco Pani, Manuel Rosales Torres, Sebastian Weber, Etienne B Yehoue",
    "Published: May 15, 2015",
    "Series: Departmental Papers",
    "DOI: https://doi.org/10.5089/9781498368476.087",
    "Dollarization is defined as the use of foreign currencies as a medium of exchange, store of value, or unit of account.",
    "It is associated with financial development under macroeconomically fragile conditions and has been a key factor explaining vulnerabilities and currency crises in Latin America, parts of Asia, and Eastern Europe.",
    "Dollarization in SSA remains significant and persistent at over 30 percent rates for both bank loans and deposits.",
    "The study notes that dollarization \"has not increased significantly since 2001.\"",
    "Progress in reducing dollarization in SSA has lagged behind other regions.",
    "The study fills a gap in the literature by analyzing dollarization issues with specific reference to the SSA region.",
    "Analysis is based on the evidence for the past decade (relative to the publication date).",
    "Bank deposits",
    "Currencies",
    "De-dollarization",
    "Dollarization (deposit and loan)",
    "Financial services",
    "Foreign exchange",
    "Monetary policy",
    "Money",
    "**Dollarization in Sub-Saharan Africa: Experience and Lessons**"
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