Clément Berthou is a payment systems expert and an economist advising the National Bank of Cambodia through its Institute for Banking Studies. He holds a PhD in Economics (Université Grenoble Alpes) and serves as IMF Short-Term Expert on cross-border payments. Previously, he managed Société Générale's global cash network.

The Institute for Banking Studies (IBS) is a higher education institution and department of the National Bank of Cambodia, training Cambodia's future commercial and central bankers.

This presentation examines Cambodia's dollarization through an infrastructural lens, analyzing how payment systems and monetary architecture shape currency dynamics. Drawing from PhD fieldwork, this study reveals the paradox of dollarization: while limiting monetary sovereignty (monetary policy constrained), payment infrastructure simultaneously enabled Cambodia to mobilize financial resources for national reconstruction following three decades of conflict and instability.

Disclaimer : The views expressed in this presentation are those of the author