Reply to thread

Message: [QUOTE="Nehanda, post: 26189, member: 2262"] The people in charge of money in Zimbabwe want companies to use a new type of money called ZiG. ZiG is backed by gold. Companies that sell their shares on the stock market have to tell everyone how much money they make using ZiG now. Some people are not sure if this is a good idea. They are talking to the bank about what to do next. The bank says using ZiG is important because lots of people are already using it to buy and sell things. In the past, companies could report their earnings in US dollars. Many companies liked this better because Zimbabwe's money often lost its value very quickly. One big company, FBC Holdings, thinks using ZiG could make things harder. They say it might be tricky for companies to keep track of their money, which could also worry people who invest in these companies. FBC Holdings believes companies would have to change how they keep their financial records, their computer programs, and how they check their accounts. Companies may also need to change their money into ZiG frequently, which could be a hassle. FBC Holdings wants the people in charge to think about this again. They say it would be better if companies could choose which money they want to use. That way, they can pick the one that works best for them. Zimbabwe has tried to make its money work six times since 2009. But the new money, ZiG, has already lost a lot of its value. It is now worth 95% less than when it first came out, making it hard for companies to do business in Zimbabwe. Some big accounting companies from other countries have even decided to leave Zimbabwe because it is so tough to work there. [/QUOTE]

Name