Zimbabwe: RBZ Backs Zig-Only Payments for Suppliers

The Reserve Bank of Zimbabwe (RBZ) has endorsed a government directive requiring public sector suppliers and contractors to be paid exclusively in the local currency, ZiG describing the move as a key step towards strengthening its use in the economy.

In a statement, John Mushayavanhu said the policy recently announced by Finance Minister Mthuli Ncube would help boost demand for the domestic currency and support long-term monetary stability.

“The Reserve Bank welcomes the pronouncement by the…