Zimbabwe Gold (ZiG)

• Zimbabwe has introduced a new gold-backed currency called ZiG – the name stands for “Zimbabwe Gold“.
• It is the latest attempt to stabilise an economy that has lurched from crisis to crisis for the past 25 years.
• Unveiling the new notes, central bank governor John Mushayavanhu said the ZiG would be structured, and set at a market-determined exchange rate.
Key facts:
• Zimbabwe’s President Mnangagwa has recently declared national disaster over drought.
• Zimbabwe is facing huge Annual inflation , it has reached 55% in March 2024.
• Zimbabwe has the largest man-made lake in the world
• Lake Kariba is the largest man-made lake and reservoir in the world by volume.
• Zimbabwe is home to one of the world’s biggest waterfalls
• The fifth UNESCO World Heritage Site is Mosi-oa-Tunya / Victoria Falls.