The Dollarisation Debate: US Treasury Opposes Shared Seigniorage Proposal

NEWS

WASHINGTON DC--The US debate on the dollarisation of other countries has set bankers against the US Treasury, as legislation aimed at making the adoption of the dollar easier finds its passage blocked.

Backers of the legislation believe it will encourage greater fiscal discipline in countries adopting the dollar as their own, as well as opening new trade opportunities for US companies.

It would also allow unofficially dollarised countries, such as Argentina, to financially benefit from seigni