Zimbabwe Launches New Gold-Backed Currency: Will it Work? | Vantage with Palki Sharma
Zimbabwe's central bank launched a new "structured currency" backed by gold. This comes as it seeks to tackle sky-high inflation and stabilise the country's long-floundering economy. The ZiG - short for Zimbabwe Gold - will replace the Zimbabwean dollar which has tumbled in value over the past year, pushing inflation through the roof. Zimbabweans have 21 days to convert their old cash into new money. But analysts have questioned the move. They ask whether the country has enough reserves to adequately back the currency, There are also doubts over volatility of gold prices. So will this new currency work? Palki Sharma tells you.
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Zimbabwe | New Currency | Gold-Backed Money | Zimbabwe Dollar | Economy | Firstpost | World News | Vantage | Palki Sharma
#zimbabwe #newcurrency #goldbackedmoney #zimbabwedollar #economy #firstpost #vantageonfirstpost #palkisharma #worldnews
Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.
The show is anchored by Palki Sharma, Managing Editor, Firstpost.
By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories – making Vantage a destination for thought-provoking ideas.
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