Valdai Paper #83: De-Dollarization in the EAEU Member States: Key Trends and Prospects

29.03.2018

The emerging trend towards de-dollarization in the EAEU can make domestic monetary policy more efficient as well as facilitate economic integration in the Eurasian space.

A few unfavourable external shocks affected the EAEU countries in recent years led to institutional changes that facilitated de-dollarization in the EAEU member states. Each country applied its own set of tools to achieve the goal, including a more flexible exchange rate and measures against inflation which assumed to be the most efficient one.

This is the dollarization that makes it difficult to harmonize member states’ monetary policies, making them vulnerable to external pressure and adverse market conditions and casting doubt on the implementation of macroeconomic development of the countries essential for further integration.

How to reinforce the emerging trend? What could be the most efficient policy for EAEU countries to achieve the integration goals?

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