The ZWD is no longer minted or recognized as the official currency of Zimbabwe: A series of unsuccessful attempts to establish a stable currency followed the cancellation of the ZWD. In April 2024, Zimbabwe began issuing the Zimbabwe Gold (ZiG), its latest attempt to stabilize its currency and...
If a government decides to turn on the printing presses, these fiat currencies quickly lose their values because there is nothing tangible that is backing their value. Look to Zimbabwe as an example of a country with a fiat currency that has essentially made all of their outstanding notes worth...
The African nation of Zimbabwe provided an example of the worst-case scenario in the early 2000s. The country's central bank began to print money at a staggering pace in response to serious economic problems, resulting in hyperinflation. Experts suggest that the currency lost 99.9% of its valu...
An oversupply of money is the reason whyZimbabwean dollarshave to be counted in scientific notation. Cryptocurrency advocates like to point to this sort of thing as evidence for why fiat money is untrustworthy. We’ll look at that idea in a moment. Post-World War I Germanysuffered notably ex...
Zimbabwe, according to Van der Linde, lacks the foundations to support the Zimbabwean currency. “Despite what the government claims, Zimbabwe does not have the foundations in place to stably retain its own currency,” he added. Backing the USD is a possibility, but from a trade viewpoint th...
inflation rose to an estimated at 79.6 billion percent per month, and the YoY inflation rate touched 89.7 sextillion percent!The currency’s value went into freefall and at its worst, 1 USD became equivalent to 2,62,19,84,228 Zimbabwean Dollars! This extraordinary situation led to the complet...
Fiat currency can function as a medium of exchange, a unit of account, and a store of value within an economy. It is essential for facilitating trade, saving, and investment, and it serves as the backbone of modern economic systems. The concept of fiat money is rooted in the authority of...
It argues that the Zimbabwean crisis between 1998 and 2009 was in fact a series of crises, from infrastructural problems and disease to a depreciating currency and increasing militarism. The authors engage with resource politics and livelihoods (part 1), migration and disembedment (part 2), ...
Zimbabwe envisions being an upper-middle-income economy by the year 2030. The vision 2030 has infrastructure development as a stand-out pillar upon which it is founded. The vision envisages well-developed, modern, efficient and resilient infrastructure a
Zimbabwe on the edge EFF leader, Julius Malema, is calling for the closure of the Zimbabwean embassy in South Africa. He tweeted his call using the trending #ZimbabweanLivesMatter. Kumbirai Mafunda from Zimbabwe Lawyers for Human Rights says the situation is very worr… ...