ZiG tames inflation in Zimbabwe

Reserve Bank of Zimbabwe Governor Dr. John Mushayavanhu informed a Parliamentary committee that the new ZiG currency, introduced in April's Monetary Policy Statement, has stabilized the exchange rate and controlled inflation.

Addressing the Portfolio Committee on Budget, Finance, Economic Development, and Investment Promotion, Dr. Mushayavanhu outlined the central bank's operations and fielded questions.

He emphasized that the ZiG has maintained a stable exchange rate of around US$1.5 since its introduction, backed by gold and foreign currency reserves.

Dr. Mushayavanhu committed to extensive consultation in future monetary policy reviews, as recommended by the committee, ensuring engagement with parliamentarians.