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

Leave a Reply

Your email address will not be published. Required fields are marked *