JOURNAL ARTICLE

Zimbabwe Central Bank Outlines Plans to Adopt ZiG as Sole Currency.

  • Published In: Bloomberg.com, 2025. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Ndlovu, Ray 3 of 3

Abstract

The article discusses Zimbabwe's central bank's plans to transition to a mono-currency system using the gold-backed currency, Zimbabwe Gold (ZiG), by 2030, phasing out the US dollar. The central bank has outlined specific targets, including increasing foreign reserves to cover three to six months of imports, reducing inflation from 94% to single digits, and managing the exchange rate premium to less than 30%. Currently, the country only has reserves sufficient for one month of imports. Under the new system, while individuals and businesses can maintain local and foreign currency accounts, they must convert foreign currency to ZiG for domestic transactions. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2025/09, pN.PAG
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2025
  • Accession Number:187697968
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