Pindula
Register Login

It's Time For Zimbabwe To Dump Its Local Currency - Hanke

It's Time For Zimbabwe To Dump Its Local Currency - Hanke

Steve Hanke, a professor of applied economics at Johns Hopkins University, says Zimbabwe should abandon its local currency and officially adopt the US dollar to tame runaway inflation.

According to Hanke’s Inflation Dashboard, Zimbabwe currently has the highest rate of inflation in the world at 244 per cent followed by Lebanon whose rate of inflation is 161 per cent.

According to figures released by the Zimbabwe National Statistics Agency (ZimStat) about a month ago, the country’s year-on-year inflation was 96.40 per cent. Lebanon’s official inflation rate is 208.13 per cent. Said, Hanke:

In this week’s inflation table, #Zimbabwe takes the 1st prize. On May 19, I measured Zimbabwe’s #inflation at 244%/yr.

Almost 3x the official inflation rate of 96.4%/yr. It’s time for Zimbabwe to dump the Zim Dollar & officially adopt the USD.

However, the Zimbabwean Government, despite promoting the use of the US dollar in domestic transactions, insists it has no plans to dump the Zimbabwe dollar.

More: Pindula News


Share Article

Sponsored

More

18 Comments

Mwakusha 1 month ago

1:500 yatosvika.


.... 1 month ago

nhasi rate ye zw$ to us$ yimarii?


Taxpayer 1 month ago

Mutuvi Ncube achiri kungogara muhotel here nanhasi


mthuli ncube 1 month ago

bad money drives out good money and you can see now that we nolonger receive more foreign currency now

ASI Ngoma ndiyo ndiyo mabond kuvanhu USA kwatiri ISU tisu vanoenda kunze vanhu vanoidii USA nhai ....nyika inovakwa nevene vayo ..akuna nyika inobudirira isina Mari yayo

uyu anorwara uyu in chinotimba voice


triple chaos 1 month ago

hatibvume triple chaos


Sponsored

More
Chawabvunza 1 month ago

"Zimbabwe inoputswa nembavha dzayo". Why should we insist on using rtgs when most economists call on us to use us$. Inflation shall continue to spiral until CCC takes over at 2023 Harmonised Elections.

[ VOTE CCC FOR REAL CHANGE ].


Youth 1 1 month ago

Anyone ane information about maresponse eApprenticeship yekuZESA nekuTongaat Hulett please ndizivisewo.


Tkt 1 month ago

Fulish, situpid economist. Instead of giving solutions to strengthen you give those that paradza.


Report Abuse 1 month ago

Insulting behaviour.
Unstable mind and hallucinatory behaviour

Chimboti Pizza 1 month ago

Zvinhu zvinorwadza but I think we are not ready to have our own currency dai tambozvisiya for now


Bright 1 month ago

Haa. Zim kuita Mari yedu ummm amheno pamwe after 40 000 yrs pamwe not now

aturo hemano 1 month ago

we are taking first price kuzvhinhu zviri negative 1st inflation,1st human rights abuse


chikwama 1 month ago

Ngavambomira mbichana kubvisa Zimdollar titange tapedza ma loan atakatora.Munoziva isu ma civil servants torarama nema loan


Teacher 1 month ago

I'm suffering because of Mtuli Ncube


ABSA 1 month ago

history repeat itself,Mthuli knew these bondnonsense wil not work .our export production is very very low we are importing more than export.for now no need for local currency inorowa ne inflation .Gono and chinamasa once tried it and it never worked let's use multicurrency USD,Rands only (BAD MONEY DRIVES OUT GOOD MONEY )


dispenser 1 month ago

spatallen is not willing, corrupt gvt is not willing ,that's their way of business , printing rtgs and send to market to fetch us dollars , **** Gvt


jorovhita 1 month ago

yuh hahana kudzidza mabooks akatotota zvee


Tio4 1 month ago

Stephen Hankes ndoma economists chaiwo, kwete edu aya akabuda the last in class,ma**** zvavo.



Leave a comment


Recent News


News Categories



Give us Feedback