|FOR IMMEDIATE RELEASE:||CONTACT: CHRISTI HARLAN|
|Friday, April 16, 1999||202-224-0894|
NOTE ROOM CHANGE TO 216 HART SENATE BUILDING
Subcommittees Set Hearing on Use of U.S. Dollar as
Official Currency in Emerging-Market Countries
The Subcommittee on Economic Policy and the Subcommittee on International Trade and Finance have scheduled a joint hearing on official dollarization in emerging-market countries. Dollarization occurs when a country eliminates its own currency and adopts the U.S. dollar. Interest in such a plan has been expressed in Mexico and by officials in Argentina and El Salvador.
The hearing will focus on the economic effects of dollarization and whether the U.S. should encourage dollarization.
WHEN: Thursday, April 22 at 10:00 a.m.
WHAT: Subcommittees on Economic Policy and International Trade and Finance
WHERE: 216 HART SENATE BUILDING
The Honorable Alan Greenspan
Chairman of the Board of Governors, Federal Reserve System
The Honorable Lawrence H. Summers
Deputy Secretary, U.S. Treasury Department
Dr. Wayne Angell
Chief Economist, Bear, Stearns & Co. Inc., Washington, D.C.
Dr. Judy Shelton
Professor of International Finance,
DUXX Graduate School of Business Leadership, Monterrey, Mexico
Member of the Board, Empower America, Washington, D.C.
Dr. Guillermo A. Calvo
Distinguished University Professor and Director
Center for International Economics at the University of Maryland, College Park
Senior Fellow, Institute for International Economics, Washington, D.C.