Zimbabwe Gradually Re-Dollarising

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Zimbabwe Gradually Re-Dollarising

Zimbabwe is gradually re-dollarising with a lot of businesses now accepting or asking for US dollars for payment. These include food outlets such as Simbisa Brands, fuel stations, city councils, pharmacies and others.

A local economist commented on the development:

The latest trend is that businesses are now charging in US dollars is now getting widespread but it is unlikely that we will see full dollarisation because we have few dollars in circulation so we might not see a full blown situation

Prof Steve Hanke said recently:

Zimbabwe’s economy is in tatters, the only way to stop runaway inflation in its tracks is a return to real dollarization

More: ZBC, Twitter



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