Tag: Zimbabwe
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Zimbabwe’s Gold-Backed ZiG Currency and Inflation
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Zimbabwe launched the gold-backed ZiG (Zimbabwe Gold) currency in April 2024 as a solution to the country’s persistent inflation crisis, which was meant to reduce reliance on the US dollar, which has dominated Zimbabwean transactions for over a decade. However, less than six months in, the ZiG has already lost…
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Zimbabwe to Compensate White Farmers for Land Seized 20 Years Ago
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In a historic move, Zimbabwe is set to compensate local and foreign white farmers who lost land and property during the controversial farm seizures that began over two decades ago. The land redistribution program, initiated by the late President Robert Mugabe in 2000, aimed to correct colonial-era injustices, but led…
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Zimbabwe Introduces Gold-Backed Currency ZiG
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With gold-backed currency ZiG, Zimbabwe has taken a bold step towards economic stability. This move aims to address the longstanding economic challenges that have plagued the country for the past 25 years. Central bank governor John Mushayavanhu unveiled the new notes, stating that the ZiG would be structured and set…
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Three African Countries Declare Emergencies Due to Severe Drought
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In recent weeks, three African countries—Zambia, Malawi, and Zimbabwe—have declared national disasters and emergencies due to severe drought conditions. These countries are facing an unprecedented crisis that is impacting millions of people and threatening food security, water supply, and energy resources. Here’s an overview of the situation in each country…