By Sam Campbell
Economics Today
The Great Recession has brought currency issues—especially the threat of a Euro crisis—to the fore. But for dollarized countries, currency headaches have long been part of the landscape.
With an estimated 90 percent share of money in circulation in Cambodia denominated in dollars, the kingdom is heavily dollarized.
The US dollar is the main alternative currency across Cambodia, Laos and Vietnam, though only in Cambodia is the greenback uncontested top dog. The Cambodian central bank has repeatedly intervened to defend the riel, raising the question of whether Cambodia should try to de-dollarize its economy. For full article, click Economics Today.
1 comment:
the article pointed out that de-dollarized the dollar is possible as indicated by the countries that once used the US dollar to help boost their economy like isreal, mexico, turkey, egypt, and poland. so cambodia could make this list too, given good preparation and a little time for the agenda and so forth. we have to study cambodian history to go back to show that cambodia once was very successful in using our riel currency after independence from france. so, we should and could do it again, really. god bless my country cambodia.
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