"Zimbabwe Balances Diplomacy and Force to Stabilize New Currency"

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Source: The Associated Press
"Zimbabwe Balances Diplomacy and Force to Stabilize New Currency"
Photo: The Associated Press
TL;DR Summary

Zimbabwe's government is promoting its new gold-backed currency, the ZiG, through public rallies, media campaigns, and forceful measures like arresting street currency dealers and freezing business accounts. Despite these efforts, public mistrust and a preference for U.S. dollars persist, driving a robust black market. The ZiG faces significant challenges in gaining acceptance, with many businesses and individuals still relying on the U.S. dollar for transactions.

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