Zimbabwe’s cabinet said it has approved a roadmap to abandon US dollars in favor of its bullion-backed currency in transactions, which will be unveiled by the nation’s Finance Minister Mthuli Ncube.
“On modalities to operationalize the ZiG currency as legal tender for use in the economy, a dedollarization roadmap is now in place,” Information Minister Jenfan Muswere told reporters Tuesday at a post-cabinet briefing held in the capital, Harare. The timeframe for its implementation will be presented by the finance minister, he said, without providing details on when Ncube will make the announcement. A Treasury spokesperson didn’t immediately respond to a text message seeking comment.
