About this work
The dollar’s international role rests on economic scale, financial depth and the stability of US markets. This February 2025 assessment weighs those advantages against geopolitical pressure and efforts to develop alternatives. It also considers how tariffs and migration restrictions could reinforce the dollar through inflation and monetary policy, even as longer term challenges to its dominance persist.
Cite this work
Marcello Estevão, Jonathan Fortun (2025). Global Macro Views: The Illusion of De-Dollarization: Why the World Needs the Greenback. Institute of International Finance.