ZimbabweEconomy

Zimbabwe's Economic Crisis: The Rise of the US Dollar Amid Zig Liquidity Crunch

2 months ago

In a striking development in Zimbabwe's economic landscape, the nation is experiencing a severe liquidity crunch that has propelled the US dollar to the forefront of its economy. This situation has unfolded against the backdrop of chronic hyperinflation and widespread cash shortages, leading many businesses and individuals to increasingly rely on the US dollar for transactions and savings.

Zimbabwe's Budget Plans in Flux as Zig Faces Sharp Decline

6 months ago

In a dramatic turn of events, Zimbabwe's budgetary frameworks are undergoing significant changes, driven largely by the steep decline of the country’s currency known colloquially as "Zig." The currency's plummeting value has created a ripple effect, prompting officials to rethink fiscal strategies aimed at stabilizing the economy and responding to rising inflation.

Zimbabwe's Economy Projected to Grow in 2024 Despite Challenging Drought Conditions

6 months ago

In a surprising turn of events, Zimbabwe's Finance Minister has announced that the country's economy is expected to grow by 2% in 2024, despite the hardships posed by severe drought conditions. This statement comes as local farmers are facing significant challenges in crop production due to the ongoing dry spell, which has raised concerns over food security and agricultural output.

Zimbabwe's Treasury Dismisses Exchange Rate Convergence Amid Economic Challenges

7 months ago

In a significant development for Zimbabwe's economic landscape, the country's Treasury has categorically ruled out any possibility of convergence between the local currency and the US dollar, a move that comes as the government grapples with soaring inflation and a depreciating national currency. The remarks by the Treasury are particularly crucial as they underscore the ongoing struggles Zimbabwe faces in stabilizing its economy amidst financial turmoil.