Colombia: Pros and cons of approving the dollarization model

Countries such as Panama, Ecuador, and El Salvador already have economies that revolve around the dollar, which they claim gives them stability.

RIO DE JANEIRO, BRAZIL - The process of adopting the dollar as the currency in Colombia, known as 'dollarization', is a controversial phenomenon that has remained in the debates of economists in recent years, but especially in recent months with the record prices of the U.S. currency for Colombians.

"Dollarization is usually the result of a situation of macroeconomic instability, particularly hyperinflation. For countries that end up dollarizing to escape hyperinflation, a reduction in the level and . . .

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