International Monetary Fund (IMF) policy has varied over time and among countries. For example, Latin American growth in the 1980s was stalled for years as countries in debt, bank creditors, and the IMF delayed various debt restructuring plans. After a decade of lost growth opportunities, the Brady Plan was...

Dollarization--the adoption of the dollar as both the unit of account and the cash medium of exchange in countries outside the United States--has become a reality recently in two Latin American countries (Ecuador and El Salvador) and is being considered in several others, including Argentina and Mexico. Proponents of...

Charles W. Calomiris's testimony before the Senate Committee on Foreign Relations on May 23, 2000.