President Emmerson Mnangagwa inspects the Zimbabwe Reserve Bank's gold reserves. The Zimbabwe Herald
AFRICA
ZiG: Zimbabwe’s Latest Attempt at Tackling its Financial Woes
Zimbabwe early this month announced the introduction of a new currency, Zimbabwe Gold, after several years under the multi-currency system, demonstrating the latest effort to combat debilitating inflation. ZiG for short, the new structured currency is the nation's latest departure from the Zimbabwe dollar, which by the introduction of ZiG was in its fifth series. The announcement of the currency change came after the Zimbabwe dollar lost more than 70 percent of its value in the first three months of 2024, with the price of a single loaf of bread skyrocketing from Z$6,105 to Z$19,357 in 11 weeks.