02066cas a2200265 a 4500 AALejournalIMF010858 230101c9999 xx r poo 0 0eng d 15.00 USD 9781589067271 0251-6365 BD-DhAAL BD-DhAAL Gelos, R. Macroeconomic Implications of Financial Dollarization : The Case of Uruguay / R. Gelos, Alejandro Lopez Mejia, Marco Pinon-Farah. Washington, D.C. : International Monetary Fund, 2008. 1 online resource (81 pages) Occasional Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Uruguay has experienced a remarkable recovery since the 2002 crisis, supported by sound policies and favorable external conditions. With the framework put in place in 2002, Uruguay abandoned an exchange rate peg in favor of a free float, adoped a monetary regime initially based on money targets, improved financial prudential norms and supervision, and accumulated significant central bank reserves. Against this background, Uruguay now faces issues beyond those addressed to stabilize the economy. As the country pursues key postcrisis monetary and financial reforms, the analysis provided in this paper has a direct bearing on the ongoing efforts to move toward a fully fledged inflation-targeting regime and develop interest rates as monetary instruments, as well as on the preparedness of the financial system to deal with shocks, and the adequacy of current central bank reserves. Mode of access: Internet Lopez Mejia, Alejandro. Pinon-Farah, Marco. Occasional Papers; Occasional Paper ; No. 2008/005 Full text available on IMF http://elibrary.imf.org/view/books/084/09096-9781589067271-en/09096-9781589067271-en-book.xml IMF e-Library