Playing Monopoly with the Devil: Dollarization and Domestic Currencies in Developing Countries

This event, featuring Former Minister of Finance of El Salvador Manuel Hinds, focused on the question of why should a developing country surrender its power to create money by adopting an international currency as its own? In his book Playing Monopoly with the Devil: Dollarization and Domestic Currencies in Developing Countries, Hinds explores the currency problems that developing countries face and offers sound, practical advice for policy makers on how to deal with them. Hinds challenges the myths that surround domestic currencies and shows the clear rationality for dollarization or the use of standard international currency. Liliana Rojas-Suarez, Senior Fellow, Center for Global Development, moderated this discussion.