Zimbabwe economic crisis: new currency lost nearly half its value in six months

Zimbabwe's government is struggling to stabilise the country's economy.


Al Jazeera’s Haru Mutasa reports from Harare:


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[Mac_K]

why does the money look like a print on a plain paper cutout... Crazy...

[souravjaiswal-jrbj]

Billionaire were poor people in Zimbabwe, trillionaire were still below povertyline.

[jezuschrist]

Arrest mnagagwa and his criminal zanu pf government quickly

[tinotendakunaishe]

25 years of chaos and no concerted effort to fix the problem

[chi-jenyang]

This is what happens when a gold-backed currency is backed by imaginary gold.

[karimmoorad]

Zimbabwe is an example of why you shouldn't betray westerners without backing from your african neighbours.

[Kellylv]

I'm surprised there's still Zimbabweans, in Zimbabwe

[Mfimbosh]

Zimbabwe should just join the CMA already! It’d mean:

1⃣ Lower Transaction Costs – easier trade with SA, Lesotho, Namibia, Eswatini.
2⃣ Increased Stability – better inflation control and stronger currency policy with the Rand.
3⃣ Restored Trust – a currency backed by ZAR would give people confidence.

And we’d still keep a local currency; it’d just be linked to the Rand for stability. This doesn’t even have to be forever—think of it as a 30-year plan to get our economy on track.

[mumadzore]

They said “it wasn’t a devaluation but a manifestation of what was already happening in the market” 😂

[thesigmasystems]

We are waiting for a new Currency, we are used to this

[TzaboChakuze-vpos]

Reasons why Zim doesn't just use the ZAR ?

[cliggraS]

If you implement communism policy, you will end in poverty, 100% sure, no matter ethnic, rich or poor country or anything.

[RoyMcCoy]

Get rid of the Hyena president & his cronies.

[anthonytesla]

😂😂oh yeah but at least they own the land right?

[mikenobody]

Just use the ZAR (Rand, South Africa's currency).

[Rainforestdelight]

You can’t beat the almighty US dollar.

[PERFECT]

Definitely agree that we need years to restore public confidence before using own currency

[rekababa]

bring back Ian Smith? but muh racism 🙄

[DatGuy-dcws]

Why does the government have to issue a "gold backed" currency ? Just mint real gold and silver coins. I'll tell you why, because then they can't inflate. Who knows if there even is any gold backing the currency and if there is, can the money be converted on demad to gold?

[michellegrobbelaar]

They must swallow their pride and adopt the rands full time.