An IMF paper published in July analyses de-dollarisation in Peru, and shows the positive impact the policy has had on the economy during the last decade.

The paper notes that Peru successfully pursued a market-driven financial de-dollarisation during the last decade, causing a decline in the dollarisation of credit and deposits at commercial banks, across all sectors and maturities.

Using time-series data from 2001 to 2009, Mercedes García-Escribano, the paper's author, shows that dollarisation