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World Bank Cautions Zimbabwe Against Hasty De-Dollarisation, Warns of Capital Flight Risks
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World Bank Cautions Zimbabwe Against Hasty De-Dollarisation, Warns of Capital Flight Risks
The World Bank has issued a stern warning to Zimbabwe, advising against a premature and rapid transition away from the multi-currency system, particularly the phasing out of the US dollar. The international financial institution cautioned that rushing to make the bullion-backed ZiG the country’s sole currency by the targeted 2030 deadline could trigger capital flight and reverse recent economic stabilization gains. In a report released on Friday…
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