PIPS
PIPS
Dollarization Takes a Knock
Proponents of the 'dollarization' of economies in Latin America were struck a blow earlier this month at a gathering of central bankers and monetary officials in the Rocky Mountain resort of Jackson Hole, Wyoming. "The much better alternative is to rebuild institutions and credibility," said Mexican central bank boss Guillermo Ortiz. "The whole issue should be focussed on that." Other delegates agreed that adopting the US dollar was a rash plan, which would virtually
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