Zimbabwean Finance Minister Mthuli Ncube believes his country’s economy has rebounded after decades of economic turbulence characterised by hyperinflation, high debt levels and a total collapse of the domestic currency.
In 2009 the country abandoned its national currency and authorized the use of the United States (US) Dollar, the South African Rand, and other foreign currencies in domestic trade.
After numerous failed attempts to reintroduce a domestic currency the Zimbabwean government finally introduced the Zimbabwe Gold in April 2024 which has up to now survived all major shocks.
Ncube says the country has over the past few years improved macroeconomic stability, tamed inflation and will soon abandon the use of the US Dollar and adopt a mono currency system.
–SABC–
