The currency was scrapped in 2009 after hyper-inflation rendered it worthless, and Mnangagwa presided over its reintroduction four years ago.
Zimbabwean President Emmerson Mnangagwa vowed to defend the nation’s local currency on the eve of the southern African nation’s elections. Mnangagwa, 80, who is seeking a second term Wednesday, told the state-owned Zimpapers Television Network that the economy and Zimbabwe dollar in particular, are under “attack” from Western nations that are fostering instability so they can effect regime change.
Now there is stability in the economy and in the currency. It has stabilised,” he said. The Zimbabwean dollar slumped more than 85% against the US dollar in May, before staging a turnaround after the Treasury introduced measures to boost the local unit’s demand including ordering corporates to pay taxes using the local currency. The Zimbabwe dollar officially trades at 4 568 Zimbabwe to the greenback, data on the central bank’s website shows.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Mnangagwa: Zimbabwe's 'Crocodile' president, 80, seeks new termZimbabwe elections: Emmerson Mnangagwa will be squaring off against Nelson Chamisa on 23 August at the polls.
Read more »
Emmerson Mnangagwa: the ruthless pursuit of power - The Africa Report.comThe Zimbabwe president’s life story leaves no doubt that he will stop at nothing to win Wednesday’s election. Even though he has tried to erase his involvement in the Gukurahundi genocide.
Read more »
A final push in Zimbabwe: Chamisa vows not to victimise Mnangagwa – who holds a cabinet meetingBoth main contenders for Zimbabwe's presidency projected themselves as sure-fire winners, as campaigning wrapped up.
Read more »
'Zimbabwe, our time has come,' says Chamisa ahead of election push to unseat MnangagwaMore than 10 000 people, many clad in bright yellow, gathered for a climactic show of support for Zimbabwean opposition leader Nelson Chamisa ahead of tense general elections.
Read more »
| Zimbabwe elections: Will Mnangagwa stay in power or will Chamisa triumph?All are on Zimbabwe as elections loom and incumbent President Emmerson Mnangagwa is expected to face off with his main challenger Nelson Chamisa.
Read more »
Zimbabwean elections: Chissano impressed by Mnangagwa, Chamisa's peace pledgesFormer Mozambican president Joaquim Chissano says he is impressed by the two frontrunners in the race for Zimbabwe's presidency for their promises of peace - during and after the polls.
Read more »