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dollarization ‎(uncountable)

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  1. The process of a country, officially, or its residents, unofficially, adopting the US dollar or other foreign currency in parallel to or instead of the domestic currency.
    • 2002 - New faces of Andean politics in The Economist (U.S. Edition) October 26, 2002
      Making dollarisation work requires structural reform, something President Noboa has failed to achieve. Ecuador's businesses are struggling against high costs. The public finances face a shortfall. A new agreement with the IMF has proved elusive. Neither candidate says he would scrap the dollar, but neither says much about reform.


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