Zimbabwe already on path to currency reforms

Asset management and financial services firm, Zimnat, says pre-mature devaluation of real time gross settlement (RTGS) dollars could cause irreparable damage to confidence, national savings, financial sector and the economy in general.

Zimnat made the observation in its review of Finance and Economic Development Minister Professor Mthuli Ncube's 2019 National Budget Statement, which was presented on the 22nd of November.

The RTGS dollars and bond notes remain the major forms of money in Zimbabwe's multi-currency system, with the US dollar being the currency of reference or accounting.