Zimbabwe’s Ruling Party Passes Resolution to Have Gold-Backed ZiG Adopted as Sole Currency
- Ruling Party seeks to end use of dollars in transactions
- No timeline given by Zanu-PF for when change will happen
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Zimbabwe’s ruling party passed a resolution to adopt the bullion-backed ZiG currency as the country’s sole legal tender and phase out the use of US dollars.
The government is ordered to “expedite efforts to dedollarize the economy and promote the use of the ZiG as the country’s sole currency,” according to the resolution agreed at the ruling Zimbabwe African National Union-Patriotic Front annual conference at the weekend. No timeline was given for the change.