What countries have dollarised?

[sergio]

All About Dollarization: Which Countries Use USD (and Why)? | Western Union

Understand how dollarization works and how the U.S dollar is used as a currency in other countries. Learn which countries use the U.S. dollar and why.

www.westernunion.com

More than I had thought

 

[Quilombo]

Those are purely dollarized countries, there are also countries that are Euroized/dollarized in other non-USD currencies, have flexible convertibility, pegged convertibility, and random countries like Zimbabwe where you can pay in whatever the other party accepts.

 

[mikic007]

All About Dollarization: Which Countries Use USD (and Why)? | Western Union

Understand how dollarization works and how the U.S dollar is used as a currency in other countries. Learn which countries use the U.S. dollar and why.

www.westernunion.com

More than I had thought

Only 3 are of any importance, and none of them has any similarity to Argentina. Practically every country on the planet had terrible inflation at some point in the past, and taking other's currency wasn't high on the list of solutions. Cannot imagine serious first world country without their own currency, I don't think, its possible.

 

[GMan_27]

Those are purely dollarized countries, there are also countries that are Euroized/dollarized in other non-USD currencies, have flexible convertibility, pegged convertibility, and random countries like Zimbabwe where you can pay in whatever the other party accepts.

View attachment 9634

Zimbabwe has dollarised in everything but name to be honest. Some shops accept ZAR, Bond Notes or whatever other currency but in reality everything has a USD price from beer and bread to bedding and burials. If you get paid in another currency then citizens normally run and exchange them to USD.

If you only had dollars in Zimbabwe, you would be perfectly happy.

EDIT: You can even WU USD to Zimbabwe and when you exchange currencies when traveling there they just give you USD. EDIT

Weirdly enough the exchange rate for ZWL (current Zim dollar) is 1 USD = 322 ZWL... Better than the ARS...

 

[mc kenna]

Cannot imagine serious first world country without their own currency, I don't think, its possible.

Except for the former western European block that gave up their currencies and went to the Euro, you mean?

 

[FrankPintor]

Except for the former western European block that gave up their currencies and went to the Euro, you mean?

The governors of the national central banks of each Euro member country are on the ECB governing council so it's still "their" currency. Monetary sovereignty wasn't lost, it was pooled.

 

[mikic007]

Except for the former western European block that gave up their currencies and went to the Euro, you mean?

If only you would say former Eastern block, bacause that would be much closer to the point. If we would follow your logic, then we have more than 50 states in North America, that dolarised, as well.

A lot was said already about dolarization and its pros and cons, but listing the countries that went through already, just isn't very smart way to prove the point. Because there aren't any that would give us confidence such move is necessary, or smart. It will be a huge gamble, and medicine might work for some time, it might solve something, just to backfire later.