Currencies
Kenya’s Ruto Lauds Zimbabwe’s ZiG as Boost to Economic Prospects
- Fitting to use mineral wealth to back local unit, Ruto says
- Central bank set to release banknotes of ZiG from April 30
A ZiG banknote.
Photographer: Cynthia R Matonhodze/BloombergThis article is for subscribers only.
Kenyan President William Ruto hailed Zimbabwe’s gold-backed currency as a potential driver of economic recovery in the southern African nation.
The introduction of the so-called ZiG demonstrated the authorities’ commitment to reviving the country’s economic fortunes, despite a a host of setbacks and pressures, Ruto told delegates gathered at an international trade fair over which he officiated Saturday in Zimbabwe’s second-biggest city of Bulawayo.