The country’s local currency, Zimbabwe Gold (ZiG) has depreciated by 49 percent against the USD since its introduction in April 2024.
This is according to renowned American economic analyst Professor Steve Hanke, a specialist in tracking troubled currencies worldwide.
He says according to his latest check, the Zimbabwean currency was the second worst world over.
Hanke has been urging Harare to fully dollarise.
However, President Emmerson Dambudzo Mnangagwa’s administration says it is currently working towards a mono-currency, ZiG.
Finance and Investment Promotion minister Professor Mthuli Ncube recently disclosed that plans are underway to dump the US dollar.
But, he warned that it will not be an over night issue, he said some fundamentals should be followed and maintained first.
Zwnews
