Zimbabwe Introduces Gold-Backed Currency ‘ZiG’ to Stabilize Economy
Zimbabwe has launched a new currency called ZiG, backed by gold, in an effort to bring stability to its troubled economy.
With inflation soaring and the local currency losing value rapidly, the government hopes the ZiG will restore confidence.
However, skepticism remains due to past economic mismanagement.
The introduction of ZiG coincides with challenges like drought, adding to the country’s woes.
Source: BBC
https://www.bbc.com/news/world-africa-68736155