Zimbabwe to Replace Us Dollar With Gold-Backed Zig By 2030

TLDR

• Zimbabwe’s central bank has set economic milestones to be achieved before the ZiG, a gold-backed currency introduced in April 2024
• The Reserve Bank of Zimbabwe (RBZ) said the plan involves phasing out the US dollar from domestic transactions as the country transitions to a mono-currency system
• Key objectives include boosting foreign exchange reserves to cover three to six months of imports, reducing inflation from the current 94% to single digits by 2026

Zimbabwe’s central bank has set…