## Implementing Official Dollarization

_IMF Working Papers, April 1, 2010_

## Source details

**Canonical URL:** [Implementing Official Dollarization](https://www.imf.org/en/publications/wp/issues/2016/12/31/implementing-official-dollarization-23800)

## Other formats

- [Markdown version](/en/publications/wp/issues/2016/12/31/implementing-official-dollarization-23800/index.md)
- [Structured JSON version](/en/publications/wp/issues/2016/12/31/implementing-official-dollarization-23800/index.json)
- [Bundle manifest](/en/publications/wp/issues/2016/12/31/implementing-official-dollarization-23800/bundle-manifest.json)

## Bibliographic details
- Authors: Åke Lönnberg, Luis Ignacio Jácome
- Published: April 1, 2010
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781455200658.001

---

### Purpose and scope
- 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.

### Critical institutional bases
- 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.

### Operational issues to smooth the transition
- 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.

### Structural reforms for sustainability
- 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.

### Case experiences summarized
- Draws on country experiences from:
  - Ecuador
  - El Salvador
  - Kosovo
  - Montenegro
  - Timor-Leste

### Subject areas and keywords
- Subject: Banking, Currencies, Dollarization, Financial crises, Inflation
- Keywords: central bank, country, currency, interest rate, WP

---

## Content in this bundle

- **_wp10106**
  - [_wp10106 (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2010/_wp10106.pdf.md){rel="alternate" type="text/markdown"}
  - [_wp10106 (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/wp/2010/_wp10106.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/wp/issues/2016/12/31/implementing-official-dollarization-23800_