Tag: Zig
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Zimbabwe government to pay civil servants in US dollars due to devaluation of the ZiG
The government of Zimbabwe, in an attempt to mitigate the impact of the recent devaluation of the ZiG, has announced that salary raises and an annual bonus for civil servants in the country will be paid in US dollars. According to the Minister of Public Service, Labour, and Social Welfare, July Moyo, the move by…
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Zimbabwe must use the ZiG to “break free from the US dollar grip” and thrive economically, official says
Using the ZiG as legal money will boost economic sovereignty and eliminate foreign currency dependency, Information Secretary Nick Mangwana said in an opinion piece published in the local newspaper. “The benefits of de-dollarization far outweigh the costs, making it an urgent imperative for Zimbabwe to break free from the US dollar’s grip,” he said.”The US…
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Reserve Bank of Zimbabwe introduces new currency
🇿🇼 Zimbabwe Gold (ZiG) will be issued in the form of banknotes and coins, Russian media reported, citing the head of the country’s Reserve Bank. All reserves of the Zimbabwean dollar will be transferred to the new currency, backed by reserves of foreign currency and precious metals mined in the country, said John Mushayavanu. The…
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