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Zimbabwe’s Currency Plans Upended as It Fights on Two Fronts

  • Country hit by coronavirus fallout, famine simultaneously
  • Outlawing of the use of foreign currency has been reversed
Updated on

The fallout from the coronavirus pandemic has upended Zimbabwe’s plans to enforce the use of its own currency and left it scrambling to find money to tackle twin crises of economic collapse and famine.

A global slump spurred by the outbreak of the virus has come with the southern African nation’s economy in its worst state since at least 2008. Already trying to raise $400 million to buy grain after the most-severe drought in 40 years threatened to leave half of its people without enough food, it now needs another $220 million to deal with the impact of Covid-19, according to Finance Minister Mthuli Ncube.