ZimDollar Coming Back: Mnangagwa says “we must have our currency by the end of this year”

ZimDollar Coming Back: Mnangagwa says “we must have our currency by the end of this year” 1

By MacDonald Dzirutwe | Reuters | Zimbabwe must have a new currency by the end of the year, President Emmerson Mnangagwa said on Friday, arguing this would help stabilise prices after inflation hit a 10-year high. President Emmerson Mnangagwa during an interview on Carte Blanche in 2018 The southern African nation in February removed an unrealistic peg for its electronic dollars and surrogate bond notes and merged them into a transitional currency called the Real Time Gross Settlement (RTGS) dollar. The unit, which started trading at 2.5 to the dollar…

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Zimbabwe dollar back in 12 months: Ncube

Zimbabwe dollar back in 12 months: Ncube 2

By MacDonald Dzirutwe | Reuters | Zimbabwe will introduce a new currency in the next 12 months, the country’s Finance Minister said, as a shortage of U.S. dollars plunges the financial system into disarray, forcing businesses to close and threatening unrest. Professor Mthuli Ncube The southern African nation abandoned its own hyperinflation-wrecked currency in 2009 at the height of an economic recession, adopting the greenback and other currencies including sterling and the South African rand. But without enough hard currency to back up the $10 billion of electronic funds trapped…

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