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Why is Zimbabwe launching a new currency?

And does changing a country鈥檚 money ever work?

Zimbabwe has a brand new currency; it鈥檚 called the ZiG (Zimbabwe Gold) and it鈥檚 backed by the country鈥檚 gold reserves. This is the third time they鈥檝e launched a new currency in ten years and 80% of transactions in the country are now carried out in US dollars. Can the government persuade its citizens that this one will remain stable and not deflate?

The 成人快手鈥檚 Zimbabwe correspondent Shingai Nyoka explains how people pay for stuff in the country and why the government has brought in a new currency.
Two guys in Harare tell us what they make of the ZiG, and whether they鈥檙e using it instead of the US dollar.

Also Baldeep Chahal from the What in the World team brings us some other examples of countries changing their currency and chats about whether it ever works.

Instagram: @bbcwhatintheworld
WhatsApp: +44 0330 12 33 22 6
Email: whatintheworld@bbc.co.uk
Presenter: Alex Rhodes
Producers: Julia Ross-Roy and Baldeep Chahal
Editor: Verity Wilde

Available now

14 minutes

Last on

Fri 3 May 2024 02:50GMT

Broadcasts

  • Thu 2 May 2024 17:50GMT
  • Fri 3 May 2024 02:50GMT

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