Zimbabwean Finance Minister Mthuli Ncube announced new measures to help spur demand for the nation’s bullion-backed currency, including ordering government services be paid for in the unit.
Ncube presented the plans in his mid-term budget statement before lawmakers Thursday in Mount Hampden, 11 miles northeast of the capital, Harare. He vowed to offer fresh support to the ZiG, short for Zimbabwe Gold, which he praised for subduing “inflationary pressures in the economy.” Consumer prices measured in ZiG fell 0.1% in July after remaining unchanged in June from the prior month, the national statistics agency said Friday in an online briefing.
