## Dollarization in Sub-Saharan Africa: Experiences and Lessons

_Departmental Papers, May 15, 2015_

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## Bibliographic details
- 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

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### Definition and context
- 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.

### Prevalence and persistence in Sub-Saharan Africa (SSA)
- 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.

### Purpose and scope of the study
- 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).

### Thematic focus areas (as indicated by the source)
- Bank deposits
- Currencies
- De-dollarization
- Dollarization (deposit and loan)
- Financial services
- Foreign exchange
- Monetary policy
- Money

*Dollarization in Sub-Saharan Africa: Experiences and Lessons, Departmental Papers 2015, 005 (2015), May 15, 2015.*

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_Source: https://www.imf.org/en/publications/departmental-papers-policy-papers/issues/2016/12/31/dollarization-in-sub-saharan-africa-experiences-and-lessons-42657_