The introduction of a new currency, this week, was declared by the former finance minister, Tendai Biti. The presentation of the monetary policy statement by the finance minister, Mthuli Ncube and the introduction of the new currency is expected to coincide. Biti says, Without the backing of any reserves and without the context of any more

The reintroduction of the new currency by Zimbabwe will be possible only when conditions are ripe and critical economic fundamentals are in place, as using US dollar as an anchor currency is now unsustainable said Mthuli Ncube( Finance and Economic Development Minister). Zimbabwe used US$ 300 million to import the US dollars, that were circulating more

Due to the shortage of U.S dollars, Zimbabwe will introduce a new currency in the next 12 months. The southern African Nation adopted the greenback and other currencies including Sterling and South African Rand, abandoning its own hyperinflation wrecked currency in 2009 due to the economic recession. The new local currency will be introduced in more

Finance minister Mthuli Ncube says government is drafting reforms that will see Zimbabwe eventually introducing its own currency. Ncube, who is in New York for the United Nations General Assembly, told Bloomberg TV in an interview that bond notes would remain in circulation until “fundamentals are conducive for the introduction of a local currency”. “Over more