Renowned economist and professor of economics at America’s Johns Hopkins University in Baltimore, Steve Hanke has mocked Zimbabwe’s new currency, the ZiG, declaring that the country is on a merry-go-round regards its monetary policies.
Zimbabwe’s currency conversion from ZWL to ZiG is currently under the way.
In a post extracted by newsreportzim.com, Steve Hanke wrote the following
“Chaos has ensued with Zimbabwe’s latest currency gamble, the ZiG – the 6th in the last decade.”
“Payment networks are down, so banks attempting to transfer ZWL to ZiG could not do so.”
“ZIM’s MONETARY INCOMPETENCE KNOWS NO BOUNDS. Where there’s a ZiG, there’s a ZAG.”
Recently, RBZ governor Dr John Mushayavanhu urged kombis and vendors to accept the outgoing Zimbabwe currency (bond notes) until end of April.
Source Newsreportzim.com
