Zimbabwe's central bank boss thinks the country will grow six percent this year. Dr Innocent Matshe from the Reserve Bank says their economy stays strong despite world troubles. He talked to business leaders about how well Zimbabwe keeps doing when other countries struggle. Mining, farming, factories and tourism help push the economy forward. The bank chief feels confident about the future.
People started using Zimbabwe's money called ZWG more often these days. Back in April last year only 26 people out of 100 used ZWG for buying things. Today more than 40 people out of 100 choose ZWG when they shop. The government made people pay taxes with ZWG instead of dollars. This smart move made everyone want to hold more local money.
The country keeps much more foreign cash than before. Zimbabwe had 285 million dollars in April but jumped to 700 million dollars just two months later. The ZWG trades at about 27 units for one American dollar and stays steady. Monthly price increases only went up half a percent during recent months. Business owners feel more comfortable using ZWG because the rate does not change wildly.
Zimbabwe fights back against using too many foreign currencies like the dollar. The central bank wants people to use ZWG more often without forcing them. Digital payment machines help customers pay with local money easier than cash. The bank keeps its books clean to build trust over many years ahead.
People started using Zimbabwe's money called ZWG more often these days. Back in April last year only 26 people out of 100 used ZWG for buying things. Today more than 40 people out of 100 choose ZWG when they shop. The government made people pay taxes with ZWG instead of dollars. This smart move made everyone want to hold more local money.
The country keeps much more foreign cash than before. Zimbabwe had 285 million dollars in April but jumped to 700 million dollars just two months later. The ZWG trades at about 27 units for one American dollar and stays steady. Monthly price increases only went up half a percent during recent months. Business owners feel more comfortable using ZWG because the rate does not change wildly.
Zimbabwe fights back against using too many foreign currencies like the dollar. The central bank wants people to use ZWG more often without forcing them. Digital payment machines help customers pay with local money easier than cash. The bank keeps its books clean to build trust over many years ahead.
