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*Zimbabwe To Introduce New Currency In 9 Months - President Mnangagwa*

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President Emmerson Mnangagwa, who is a lawyer by training, said that Zimbabwe has to have its own currency. He said that Zimbabwe is the only country on the face of the planet that does not have a currency of its own.

The new currency will be introduced within the next nine month and the government is already working on the modalities, President Mnangagwa revealed

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Mnangagwa said this during an interview with Bloomberg on the sidelines of the 12th US-Africa Business Summit in Maputo, Mozambique, on Thursday. He said:

> Then, of course, there is an issue which is critical also for any economy: this is the question of currency.

> I am not aware of any country which has no currency of its own, but that is not my field – I am a lawyer – but I am told that except for Zimbabwe I haven’t been told of another country which doesn’t have its own currency.

> Even poor countries have currencies from what I hear, so we intend to introduce our own.

Speaking in a separate interview, Finance and Economic Development Minister Mthuli Ncube corroborated his principal’s remarks. He said:

> But I think the long-term goal, as His Excellency has said, you cannot develop without your own domestic currency, without the monetary-sector leg in terms of macro management – that is very, very critical. . .

> Ncube claimed that the government has already dealt with the issuance of Treasury Bills and fiscal deficits which cause growth in money supply and, and as a result, pose risk to currency value.

*More: The Herald*

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