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Are new banknotes the ‘golden answer’ for Zimbabwe’s currency woes?
You’ve gone to the grocery store and bought your week’s supplies… so can you imagine receiving your change in sweets, chocolates and other small items?
That’s the situation in Zimbabwe where a shortage of US dollars – and a plummeting Zimbabwean dollar – has now led the government to introduce a new currency pegged to gold.
The Zimbabwean dollar has already lost three quarters of its value this year.
But will this latest move work any better than other attempts by the government to stabilise the economy in the past?