In the last decade, a group of Latin American countries (Bolivia, Paraguay, Peru, and Uruguay) experienced a gradual, yet sustained decline in financial dollari

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a

We re-appraise the cross-country evidence on the dollarization of financial systems in emerging market economies. Amidst striking heterogeneity of patterns acro

A major, new, and comprehensive look at six decades of macroeconomic policies across the region What went wrong with the economic development of Latin America o

Despite significant strides in financial development over the past decades, financial dollarization, as reflected in elevated shares of foreign currency deposit