Granmmar dolarization
Introducción
Dollarization occurs when the residents of a country extensively use the U.S. dollar or other foreign currency alongside or instead of the local currency. In January 2000, Ecuador decided to officially opt for dollarization in order to overcome the economic crisis that had developed. This alternative not only implies a modification of the exchange rate regime, but is based on three pillars: change of the monetary system; promotion of macroeconomic equilibrium and implementation of structural reforms.
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