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Zig

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"Zimbabwe Balances Diplomacy and Force to Stabilize New Currency"

Originally Published 1 year ago — by Yahoo Finance

Featured image for "Zimbabwe Balances Diplomacy and Force to Stabilize New Currency"
Source: Yahoo Finance

Zimbabwe's government is promoting its new gold-backed currency, the ZiG, through public campaigns and forceful measures, including arrests of street currency dealers and freezing business accounts. Despite these efforts, public mistrust and a preference for U.S. dollars persist, driven by economic instability and the black market.

"Zimbabwe Balances Diplomacy and Force to Stabilize New Currency"

Originally Published 1 year ago — by The Associated Press

Featured image for "Zimbabwe Balances Diplomacy and Force to Stabilize New Currency"
Source: The Associated Press

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.