The three things Zimbabwe has to do before bringing back the Zimbabwe dollar

The Zimbabwe dollar is not likely to return anytime soon according to the Reserve Bank of Zimbabwe governor John Mangudya.

Mangudya told Bloomberg Television that three things are required before the local currency is brought back

The first thing is that Zimbabwe needs to improve its confidence, both business and consumer confidence.

The second is that Zimbabwe needs to ensure that it reduces the fiscal imbalances that are putting pressure on the financial services sector on the rate of exchange.

Thirdly Zimbabwe needs to have access to foreign finance.

“When those things are done, then we can have our local currency,” he said.

Asked about the timeframe, Mangudya said he was looking at three to five years.

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