U.S. Dollar the De Facto Zimbabwean Currency as Economy Struggles

The U.S. dollar has been spontaneously adopted by the country's producers and retailers, according to the Zimbabwe Independent. This comes after the economy went into meltdown in recent weeks with prices of basic commodities reaching new highs due to rampant inflation. Finance Minister Mthuli Ncube Ncube argued that Zimbabwe could not adopt the U.S. dollar because some banks refused to supply the country with the Greenback over fear of reprisals by the U.S. government.

U.S. dollars (file photo).


AllAfrica publishes around 800 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.