Zimbabwe's newly introduced ZiG currency has faced extensive rejection following a staggering 43% devaluation announced by Reserve Bank Governor John Mushayavanhu. Supermarkets, vendors, and tuckshops across the country are refusing to accept the ZiG, forcing many Zimbabweans to rely solely on the US dollar for their transactions. This situation has left consumers in a precarious position, especially those who have already suffered losses due to previous currency fluctuations. Critics argue that the government has essentially abandoned its currency, as the ZiG is not accepted for crucial transactions like passport applications and fuel purchases. To shed more light on the implications of this crisis, we are joined by economic analyst Prosper Chitambara from Harare, who shares insights on the overall sentiment within the economic community, the effects of this rejection on consumer behaviour, and potential strategies to restore confidence in the ZiG. Stay tuned as we uncover the complexities surrounding Zimbabwe's currency crisis and what it means for the average citizen.
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