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currency regime : Appendices.
This partly reflects China's controversial currency regime.
The answer is, it depends on the currency regime.
So I don't buy the notion that the currency regime is irrelevant.
Like Ireland, Portugal has struggled to grow under the fixed currency regime of the euro.
The yuan strengthened to 6.285 against the dollar, the near-highest since China introduced its modern currency regime in 1994.
Greece is not the only country that must survive brutal spending cuts and maintain a fixed currency regime.
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Argentina adopted a strict fixed-currency regime and overhauled its banks in the early 1990's.
Most slowly depreciated their currencies, rather than adopt the floating currencies advocated today (or the fixed-currency regime used by Argentina).
But another noteworthy aspect is that the economy will maintain a multi-currency regime, possibly during the entire term".
In the absence of formal dollarization, economic recovery after the adoption of the multi-currency regime has remained fragile, leaving an estimated 70percentnt of the population outside the banking system.
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