{
  "title": "Implementing Official Dollarization",
  "publication": "IMF Working Papers, April 1, 2010",
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  "summary": "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",
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    {
      "heading": "Purpose and scope",
      "content": "- Identifies key aspects that countries willing to officially dollarize must necessarily address.\n- Aimed at providing preliminary guidance to policy makers and practitioners adopting official dollarization.\n- Does not take a position on how appropriate this monetary arrangement is.\n- Briefly illustrates experiences from Ecuador, El Salvador, Kosovo, Montenegro, and Timor-Leste."
    },
    {
      "heading": "Critical institutional bases",
      "content": "- Discusses the critical institutional bases necessary to unilaterally introduce a new legal tender.\n- Highlights the role of central bank legal and operational arrangements in the transition to a new currency."
    },
    {
      "heading": "Operational issues to smooth the transition",
      "content": "- Describes relevant operational issues to smooth the transition toward the use of the new currency.\n- Addresses practical considerations for implementing the change in legal tender and day-to-day monetary operations."
    },
    {
      "heading": "Structural reforms for sustainability",
      "content": "- Identifies key structural reforms that are necessary to favor the sustainability over time of this monetary regime.\n- Emphasizes reforms to support long-term viability of official dollarization."
    },
    {
      "heading": "Case experiences summarized",
      "content": "- Draws on country experiences from:\n  - Ecuador\n  - El Salvador\n  - Kosovo\n  - Montenegro\n  - Timor-Leste"
    },
    {
      "heading": "Subject areas and keywords",
      "content": "- Subject: Banking, Currencies, Dollarization, Financial crises, Inflation\n- Keywords: central bank, country, currency, interest rate, WP\n\n---\n\n Content in this bundle\n\n- wp10106\n  - wp10106 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp10106 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/implementing-official-dollarization-23800"
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    "Authors: Åke Lönnberg, Luis Ignacio Jácome",
    "Published: April 1, 2010",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781455200658.001",
    "Identifies key aspects that countries willing to officially dollarize must necessarily address.",
    "Aimed at providing preliminary guidance to policy makers and practitioners adopting official dollarization.",
    "Does not take a position on how appropriate this monetary arrangement is.",
    "Briefly illustrates experiences from Ecuador, El Salvador, Kosovo, Montenegro, and Timor-Leste.",
    "Discusses the critical institutional bases necessary to unilaterally introduce a new legal tender.",
    "Highlights the role of central bank legal and operational arrangements in the transition to a new currency.",
    "Describes relevant operational issues to smooth the transition toward the use of the new currency.",
    "Addresses practical considerations for implementing the change in legal tender and day-to-day monetary operations.",
    "Identifies key structural reforms that are necessary to favor the sustainability over time of this monetary regime.",
    "Emphasizes reforms to support long-term viability of official dollarization.",
    "Draws on country experiences from:",
    "Subject: Banking, Currencies, Dollarization, Financial crises, Inflation",
    "Keywords: central bank, country, currency, interest rate, WP",
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