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Zimbabwe

Against the odds, can the new ZiG currency tame inflation?

With 80% of business still priced in US dollars, many are sceptical of the latest monetary plan

Dropped into its sobering assessment of Zimbabwe’s economic prospects the IMF Article IV review team offered some qualified support for the Zimbabwe Gold (ZiG) currency on 28 June: the new exchange rate had so far remained stable after ‘ending a bout of macro-economic instability’ this year. Most striking was the IMF team’s repetition of the government’s projection that cumulative inflation could fall to about 7% in the remainder of the year.

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