By RFIPubliée on 24-06-2019Modified on 24-06-2019 at 21:36

Zimbabwe wants to give back credit to its national currency, since Monday, June 24, with the announced ban on transactions in foreign currencies, including the US dollar. These transactions were allowed in Burkina for ten years, but have always struggled the country out of the economic crisis.

Zimbabwe had abandoned its currency in 2009, in favor of the US dollar, following an inflation of more than 230,000%. Since then, all attempts to revive the Zimbabwean dollar in internal transactions have failed. Two other foreign currencies, the British pound and the South African rand had settled alongside the greenback.

Since Monday, the Zimbabwean dollar remains the only currency allowed for transactions, according to the Central Bank. Is the timing right for restoring a stable Zimbabwean dollar ? After the fall of Robert Mugabe, less than two years ago, President Emmerson Mnangagwa promised to revive the economy, but he struggles to achieve results.

This prohibition of foreign exchange in trade and internal trade is rather the execution of a will several times announced, namely the restoration of a national currency, before the end of this year.

Thus, the country has a huge project ahead of it, that of finding a solution to the lack of liquidity, stop the fall of the new Zimbabwean dollar and the high inflation in order to avoid resorting again to the foreign currencies in the domestic transactions, as it was the case in 2016, a year before the fall of Robert Mugabe.

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