02120cas a2200277 a 4500 AALejournalIMF014983 230101c9999 xx r poo 0 0eng d 20.00 USD 9781498368476 2616-5333 BD-DhAAL BD-DhAAL Mecagni, Mauro. Dollarization in Sub-Saharan Africa : Experiences and Lessons / Mauro Mecagni, Juan Corrales, Jemma Dridi, Rodrigo Garcia-Verdu. Washington, D.C. : International Monetary Fund, 2015. 1 online resource (75 pages) Departmental 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 Dollarization-the use of foreign currencies as a medium of exchange, store of value, or unit of account-is a notable feature of financial development under macroeconomically fragile conditions. It has emerged as a key factor explaining vulnerabilities and currency crises, which have long been observed in Latin America, parts of Asia, and Eastern Europe. Dollarization is also present, prominently, in sub-Saharan Africa (SSA) where it remains significant and persistent at over 30 percent rates for both bank loans and deposits-although it has not increased significantly since 2001. However, progress in reducing dollarization has lagged behind other regions and, in this regard, it is legitimate to ask whether this phenomenon is an important concern in SSA. This study fills a gap in the literature by analyzing these issues with specific reference to the SSA region on the basis of the evidence for the past decade. Mode of access: Internet Corrales, Juan. Dridi, Jemma. Garcia-Verdu, Rodrigo. Departmental Papers; Departmental Paper ; No. 2015/005 Full text available on IMF http://elibrary.imf.org/view/journals/087/2015/005/087.2015.issue-005-en.xml IMF e-Library