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.