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From ZWD to ZiG: A Look at Zimbabwe’s Latest Attempt at Currency Stability

ZiG, Zimbabwe’s latest attempt at currency stability, was backed by gold reserves with the theory that inflation would be controlled and the country would be able to have a stabilized currency. Seeing that gold is a finite resource and only a certain amount of it is available, its supply would be limited, and a fixed exchange rate could be set. In addition, gold has an intrinsic value, which would…

This Week in Africa

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