dollarization

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English[edit]

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Etymology[edit]

dollarize +‎ -ation

Noun[edit]

dollarization (uncountable)

  1. (economics) 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 October 26, “New faces of Andean politics”, in The Economist:
      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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