They called it “Bretton Woods 2.” A better name would have been the “new dollar area” (NDA), especially when the November 2008 G20 summit to fix the global financial architecture was labeled by the media as Bretton Woods 2. It is an informal, fixed, or semi-fixed exchange rate regime centered By Brian Reading
In its 2008 annual review of Peru’s economy, published in February 2009, the International Monetary Fund (IMF) praised the government for establishing a sound policy framework. It said that the strong fiscal surpluses achieved in recent years had supported a significant reduction in public debt, while a sound monetary policy had been instrumental in helping to maintain macroeconomic stability and reduce dollarization
Nauru uses the Australian dollar as its means of exchange, giving it no control over monetary policy or interest rates, and rendering it unable to issue currency to fund deficit spending. Prices are largely influenced by those prevailing in Australia.