Zimbabwe is set to once again have its own local currency and will enforce the use of this in its attempt to restore economic growth.
Zimbabwe’s President Emmerson Mnangagwa has said that the country will reintroduce a local currency in order to bring back economic stability.
Mnangagwa said that Zimbabwe will bring back a national currency as its legal tender since the country cannot develop using several foreign currencies. “In 2009 our currency collapsed and former President Mugabe appointed a committee of five people, which I chaired, to look into the currency issue. We agreed that for us to survive we had to create a basket of currencies and to allow our own currency to die.” Mnangagwa said, per
This is because using a single national currency will help to bring sustainable growth and development to the independent country which was known as the “Breadbasket of Africa”.
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