Zimbabwe has received strong admonition from the World Bank about its strategy to completely dedollarize its economy.
According to the global lender, Zimbabwe’s plan to immediately rid its domestic economy of the use of the dollar could lead to capital flight and undermine economic stability.
Zimbabwe is a few years away from relying entirely on its new currency, the ZiG, for all internal transactions.
The country set 2030 as the year when its people are no longer allowed to use foreign currencies for domestic consumption.
However, a recently released report from the World Bank shows that the date could be considered premature if confidence in the ZiG has not been firmly established.
