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ZiG – Zimbabwe
April 13 , 2024
23 days
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- Zimbabwe has introduced a new gold-backed currency called ZiG - the name stands for "Zimbabwe Gold".
- It is the latest attempt to stabilise an economy that has lurched from crisis to crisis for the past 25 years.
- Earlier it abolished its own currency and for many years only used foreign bank notes such as the US dollar and the South African rand.
- Annual inflation of Zimbabwe in March reached 55% - a seven-month high.
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