Finance Minister Mthuli Ncube has provided assurance that Zimbabwe’s new currency is performing better, despite its limited availability.
During an interview with SABC news, the Finance Minister emphasiSed the improved performance of Zimbabwe’s new currency, despite its scarcity.
However, despite previous commitments to accept the newly-introduced Zimbabwe Gold (ZiG) currency, commuter omnibus operators have reversed their stance, citing concerns about their ability to purchase fuel, which is exclusively sold in foreign currency.
Zimbabweans are apprehensive about the effectiveness of ZiG in addressing the country’s persistent inflationary pressures.
The government has been working to stabilise ZiG since its launch in early April, including cracking down on illegal foreign currency trading activities.
Some businesses, such as supermarkets, have been charging a premium for transactions conducted in the new currency, while informal traders continue to reject it.
Introduced last month as a measure to combat hyperinflation, Zimbabwe Gold (ZiG) initially existed only electronically but is now available in banknotes and coins.
Notably, products such as petrol and diesel are slated to be sold exclusively in ZiG currency, signaling the government’s commitment to its adoption and stability.
Source Newsreportzim.com
