Zimbabwe Redollarises, Sets Interest Rates At 200%
The government of #Zimbabwe has brought back the #UnitedStatesDollar as a legal tender to stem rising inflation and restore confidence in the economy, but critics say the move will lead to more demands for salaries and wages to be pegged in the greenback.
Finance and Economic Development minister Mthuli Ncube also dangled housing loans to the country’s struggling civil servants in the process raising interest rates to 200% to render the incentive moot.
Joining us from Harare to speak more on this development is Economic Developer, Prosper Chitambara.
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Zimbabwe Redollarises, Sets Interest Rates At 200%
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