Volume 3

Chapter

7

Monetary Policy and Rielization

Cambodia has the distinction of being one of the most dollarized economies in the world, despite the fact that the nation has never officially adopted dollarization. Resulting from a series of shocks to confidence, the kingdom moved away from the national currency, Riel, beginning in the 1970s. The acceptance of the dollar was ultimately enshrined following the establishment of UNTAC to oversee the elections following the Paris Peace Agreement in 1991, where $1.7bn flooded the economy. In their chapter, Monetary Policy and Rielization, authors Rasheed Griffith and LOR Samnang present a pathway towards de-dollarization and the return to the Riel as Cambodia’s standard currency.

About the Author

Rasheed Griffith and LOR Samnang

Rasheed Griffith currently works at Kelman PLLC - a boutique law firm based in New York focusing on the financial technology industry. He is a Director of the Caribbean-ASEAN Council; a Visiting Research Fellow at Future Forum; and an Executive Member of the Association of Barbados-China Friendship. His research work focuses on the monetary policy of small states and the geoeconomic strategies of contemporary China.

LOR Samnang is a former young fellow and former junior research fellow at Future Forum. He holds a dual bachelor's degree of Science in Economics and Management from Université Lumière Lyon 2 and the Royal University of Law and Economics. His research interests are in macroeconomics, social policy, microfinance, and human wellbeing.