IMF Calls Zimbabwe Switch to ZiG Unit an ‘Important’ Step
- Lender plans trip next month and will assess ZiG performance
- Unit at highest level against dollar since launch last month
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The International Monetary Fund welcomed Zimbabwe’s introduction of a new bullion-backed currency as an important step, in its first substantive comment yet on the ZiG since it was launched last month.
“The introduction of ZiG represents an important policy action accompanied by several complementary policy changes — including monetary, exchange rate, and fiscal policy measures,” a spokesperson for the Washington-based lender said in an emailed response to Bloomberg questions.