Tag Archives: Dollarization and economic stability

Barbados: Former Central Bank governor makes case for adopting US currency

Urges countries like Barbados to adopt US Dollar

Dr. DeLeslie Worrell

A former central bank governor is calling for Caribbean countries to give up their individual currencies and adopt the United States dollar.

Dr. DeLeslie Worrell, the former governor of the Central bank of Barbados, told a conference organised by the Sir Arthur Lewis Institute of Social and Economic Studies (SALISES) earlier this week that switching to the US currency would essentially eliminate the threat of domestic currency depreciation and with it, the resulting possible disruptions to economic stability.
He said there was no time like the present to switch to US currency, noting that the process is not as difficult as some people may imagine.            Continue reading