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Zimbabwe Learns from Mistakes: Central Bank Vows Measured Approach to Printing New Currency

Discover how Zimbabwe's Central Bank is taking a measured approach to printing the new ZiG currency, prioritizing stability and real asset backing.

Good news for Zimbabwe! The Central Bank, led by Governor John Mushayavanhu, has announced a measured approach to printing the new ZiG currency. This means they're prioritizing keeping our money stable, unlike the inflationary spirals of the past.

Governor Mushayavanhu made it clear that they won't be printing money without proper backing. This is a big shift, and according to reports, it's coming straight from the President himself.

The ZiG currency is different from previous attempts. It's backed by gold, foreign currency, and other assets, making it more robust. We even got some help setting it up! Bloomberg reports that the World Bank, a new partner for Zimbabwe, provided valuable guidance on how to structure a strong currency.

But that's not all. The Central Bank is also working with local businesses, like the Confederation of Zimbabwe Industries and the Zimbabwe Chamber of Mines, to get their input.

Here's the best part: they're building up our gold reserves! Governor Mushayavanhu says they plan to increase our gold bullion by 2 tons every year, thanks to royalty payments from miners. This is a great way to ensure the ZiG currency has real value behind it.

So, Zimbabweans, rejoice! It seems like our new currency is in good hands, with a focus on stability and backed by real assets. Here's to a brighter economic future!

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