RBZ Clarifies ZiG Payment Policy

The Reserve Bank of Zimbabwe (RBZ) assured the public that the government's recent directive for contractors to accept exclusive ZiG payment does not signal the end of the multi-currency system. Last week, Finance Minister Mthuli Ncube directed all government contractors to be paid exclusively in Zimbabwe Gold (ZiG). The RBZ also assured state contractors it possesses sufficient foreign currency inflows and reserves to meet US dollar demands. These measures aim to maintain economic stability and public trust in the new currency, dispelling widespread fears that the policy could disrupt recent exchange rate stability.