On April 8, 2024, Zimbabwe transitions to the gold-backed ZiG currency, moving away from the depreciating ZWL. This initiative, led by Central Bank Governor John Mushayavanhu, relies on 2.5 tons of gold and diverse foreign currency reserves. The change aligns with extensive economic reforms aimed at stabilizing Zimbabwe’s economy amidst inflation and currency depreciation challenges. […]
Related Posts
Mexico’s Inflation Exceeds Forecasts in 2023
In the closing months of 2023, Mexico experienced an unexpected rise in inflation, surpassing predictions by market experts and the Bank of Mexico (Banxico). The National Consumer Price Index (INPC) increased by 0.71% in December, resulting in a 4.66% annual inflation rate, as reported by the stats agency Inegi. Although this rate marked a deceleration […]
China vs. EU: Electric Vehicle Tariff Tussle
China’s carrot-and-stick approach towards the European Union (EU) over potential electric vehicle (EV) tariffs has sparked fears of a trade war. The EU is investigating Chinese subsidies for EVs, raising tensions and preparing both sides for possible economic confrontations. The EU launched an anti-subsidy investigation due to a rapid increase in Chinese EV imports. These […]