Zimbabwe Isn’t Yet Ready for a Sole Currency, Finance Chief Says
- Nation needs access to credit lines before it can adopt one
- Nation introduced the ZiG in April to challenge the dollar
Mthuli Ncube
Photographer: Cynthia R Matonhodze/BloombergThis article is for subscribers only.
Zimbabwe’s Finance Minister Mthuli Ncube said the southern African nation needs to regain access to credit lines before it can adopt the ZiG as its sole currency.
“We need a few things in place” before the nation can have a mono currency, including making progress on restructuring $21 billion in debt, Ncube said. The nation has been locked out of capital markets since 1999 after defaulting on its debt.