Is the Future of Caribbean Currencies Uncertain?

Panel Discussion, August 23, 2022 on CVM TV, Jamaica

A 20-minute discussion on my Economic Letter of January 2022 entitled “The Uncertain Future of Caribbean Currencies”, with Dr Andre Haughton of the University of the West Indies, was carried on Jamaica’s CVM TV on August 23. The discussion was moderated by Nadine Spence of CVM TV. I opened the conversation by remarking that there was no question that if the ordinary Jamaican were asked to choose between 151 Jamaican dollars and one US dollar (the exchange rate on August 23), nobody would choose the Jamaican dollars. The only reason we retain individual Caribbean currencies is out of force of habit, a habit which now has harmful consequences.

Podcast - Why the Use of the US Dollar Increases Economic Freedom

A conversation with Rasheed Griffith on the China in the Americas podcast

Dollarization Equals Economic Freedom (

U.S Foreign Policy in the Caribbean seldom contemplates Monetary Policy. Domestic currencies in the Caribbean pervert economic freedom. Rather than being seen as economic imperialism, the spread of United States Dollars in the Caribbean should be seen as the spread of economic freedom. I am joined by Dr. DeLisle Worrell, former Governor of the Central Bank of Barbados to discuss why all Caribbean currencies should be permanently retired in favor of adopting the USD as the sole currency throughout the region.  We also discuss the potential of Chinese RMB internationalisation in the Caribbean.