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Zimbabwe authorities mix charm with force in an attempt to shore up the world’s newest currency

Associated Press

HARARE, Zimbabwe (AP) — Zimbabwe introduced the world’s newest currency in April with public rallies and commercial jingles. The ZiG is short for Zimbabwe Gold. It’s the African nation’s sixth national currency in 15 years. The ZiG is the latest attempt to replace the Zimbabwe dollar which had been battered by depreciation. But many routine transactions in the country still are done in U.S. dollars. Greenbacks are also legal tender and preferred by many citizens. Authorities now are using a charm offensive but also force to prop up the ZiG. They have packed jail cells with dozens of street currency dealers and frozen the accounts of businesses accused of undermining the value of the new banknotes.

Article Topic Follows: AP-National

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Associated Press


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