Zimbabwe’s informal traders who account for about 75% of all employment in the nation have stopped accepting the ZIMdollar also know as RTGS dollar fearing its value has declined.
The new ZIG currency which was supposed to be effective from April 8 was delayed until the April 30th, leaving the US Dollar, dominating the market.
“When you introduce new measures, you will be hoping that, you will bring stability and lower inflation but you need to be disciplined and sincere about the process,” economist Happy Zengeni explained.
“The ordinary Zimbabwean does not have the capacity to inject liquidity into the economy but capacity rests with the authorities so they need to be sincere about it.”
The new ZIG currency which was supposed to be effective from April 8 was delayed until the April 30th, leaving the US Dollar, dominating the market.