US EditionZimbabwe introduces new gold-backed currency to tackle inflation
- The Reserve Bank of Zimbabwe launched a new currency called ZiG, backed by gold reserves and foreign currencies.
- The Zimbabwe dollar has faced significant devaluation, reaching 30,000 against the US dollar officially and 40,000 on the black market.
- Inflation in Zimbabwe has spiked, with rates increasing from 26.5% to 55.3% within a few months.
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Zimbabwe today replaced the previous one with a new currency that in recent months has been drastically losing value and has been less and less used among the population of that country.
·Belgrade, Serbia
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Zimbabwe launches new gold-backed currency | WND | by Around the Web
(BBC) – Zimbabwe has introduced a new gold-backed currency called ZiG – the name stands for "Zimbabwe Gold." It is the latest attempt to stabilise an economy that has lurched from crisis to crisis for the past 25 years. Unveiling the new notes, central bank governor John Mushayavanhu said the ZiG would be structured, and…
·Medford, United States
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The new currency is intended to provide greater security and predictability. Zimbabwe is one of the countries with the highest inflation rates in the world.
·Vienna, Austria
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Total News Sources41
Leaning Left7Leaning Right7Center11Last UpdatedBias Distribution44% Center
Bias Distribution
- 44% of the sources are Center
44% Center
L 28%
C 44%
R 28%
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