Zimbabwe's central bank wants new gold money notes ready fast, said Bank Chief John Mushayavanhu. He warned people that making fresh cash takes time—anywhere from six months to two years in many places around the world.
The bank plans to make better ZiG notes that match what other countries use. Money experts know that creating new cash requires special skills and plenty of time. The bank team works hard to speed this process up as much as possible. They must follow important steps when they design and release new money.
The ZiG just celebrated its first birthday yesterday. Bank leaders think their plan to use fewer US dollars is moving forward well. They see steady ZiG value and stable food prices as good signs. This progress helped them shift toward using just one national money system within five years.
Strong local money and steady prices support moving away from US dollars. The government keeps adding rules that make ZiG stronger. People use ZiG for about 35 percent of all payments today, compared to only 15 percent last year. Because of government actions, basic item prices haven't changed since last October.
Food costs dropped half a percent, with other items rising just two-tenths of a percent during March. The bank wants a slow, market-based shift away from dollars. They believe this careful approach will help Zimbabwe switch to one money system by 2030. Each small step forward counts toward this big goal.
This careful method prevents sudden problems that might cause bank panics or undo progress. The monetary value must stay steady during this whole process. Many countries have shown that keeping prices stable matters most when changing currency systems. The central bank feels sure that both money value and prices will stay steady all year.
ZiG inflation jumped last October when exchange rates fell. It rose again in January when rent prices shocked everyone. But inflation stayed low overall, dropping to half a percent in February and going slightly negative in March. This helps people trust the system more. The bank expects tight money rules will keep ZiG stable in the coming months.
With this trend continuing, yearly inflation should stay under 30 percent by late 2025. This matches plans for six percent real economic growth next year. The entire plan depends on keeping exchange rates stable across the economy.
The bank plans to make better ZiG notes that match what other countries use. Money experts know that creating new cash requires special skills and plenty of time. The bank team works hard to speed this process up as much as possible. They must follow important steps when they design and release new money.
The ZiG just celebrated its first birthday yesterday. Bank leaders think their plan to use fewer US dollars is moving forward well. They see steady ZiG value and stable food prices as good signs. This progress helped them shift toward using just one national money system within five years.
Strong local money and steady prices support moving away from US dollars. The government keeps adding rules that make ZiG stronger. People use ZiG for about 35 percent of all payments today, compared to only 15 percent last year. Because of government actions, basic item prices haven't changed since last October.
Food costs dropped half a percent, with other items rising just two-tenths of a percent during March. The bank wants a slow, market-based shift away from dollars. They believe this careful approach will help Zimbabwe switch to one money system by 2030. Each small step forward counts toward this big goal.
This careful method prevents sudden problems that might cause bank panics or undo progress. The monetary value must stay steady during this whole process. Many countries have shown that keeping prices stable matters most when changing currency systems. The central bank feels sure that both money value and prices will stay steady all year.
ZiG inflation jumped last October when exchange rates fell. It rose again in January when rent prices shocked everyone. But inflation stayed low overall, dropping to half a percent in February and going slightly negative in March. This helps people trust the system more. The bank expects tight money rules will keep ZiG stable in the coming months.
With this trend continuing, yearly inflation should stay under 30 percent by late 2025. This matches plans for six percent real economic growth next year. The entire plan depends on keeping exchange rates stable across the economy.
