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By Ivaylo MARKOV, Managing Partner of Thales Capital
Businesses in Zimbabwe are facing a new batch of headaches after the country's central bank announced a new currency a few days ago - the sixth time in the past 16 years. The Zimbabwe Gold (ZiG) has a coverage of 2.5 tons of gold and reserves of about $285 million. It emerged due to the drastic devaluation of the Zimbabwean dollar (ZWL) launched in 2019. "Announcing a currency policy is one thing, but implement and support it is another," a local expert told to Sem?f?r.
And Zimbabwe has had a few problems in this very area already. In 2008, inflation of 500 billion%, forced then President Robert Mugabe to introduce the US dollar. In 2019 the government stopped the free use of foreign...
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