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Zim to introduce structured currency

Zimbabwe acting President Emmerson Mnangagwa (L) and his wife Auxilia (R) attend the funeral ceremony of Peter Chanetsa at the National Heroes Acre in Harare, on January 7, 2017. Former governor Peter Chanesta died on January 2, 2017. / AFP / JEKESAI NJIKIZANA (Photo credit should read JEKESAI NJIKIZANA/AFP/Getty Images)

Zim to introduce structured currency


President Emmerson Mnangagwa has said the country will soon be introducing its structured currency as part of the measures to arrest price hikes while creating a conducive economic environment.

Mnangagwa said this while addressing the first Cabinet meeting for the year at the State House today.

“Prudent fiscal and monetary policies and the promotion of a conducive business environment remain critically important for the stability and growth of our economy. Accordingly, the fiscal and monetary authorities are implementing a raft of policy measures to arrest price increases, stabilise the foreign exchange rate, maintain the value of our currency, and ultimately encourage savings. We shall soon be announcing the introduction of our structured currency,” Mnangagwa said

The country has been experiencing price hikes largely fuelled by speculative devaluation of the local currency.

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