Wednesday, 19 September 2018

Zim Dollar To Return Says Emmerson Mnangagwa

Yesterday president Emmerson Mnangagwa stated that the Zim dollar will return but the conditions are not yet right.

In a state of the nation address in parliament ,President Emmerson Mnangagwa pledged a raft of economic measures, including currency reforms and better Forex availability.

Zim Dollar To Return Says Emmerson Mnangagwa
But, he said, conditions had to be right before foreign currencies were replaced once more by the Zimbabwean dollar.

“My government shall continue with the use of the multi-currency system up until the current negative economic fundamentals have been addressed to give credence to the introduction of the local currency,” Mnangagwa said.

In 2009, wracked by hyper-inflation, Zimbabwe dumped the local dollar and adopted the US greenback and other foreign currencies, including the South African rand.

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