Discussion | Zimbabwe's new currency "ZIG"
HTML-код
- Опубликовано: 30 апр 2024
- Zimbabwe's sixth attempt to create a functional local currency since 2008, has been met with mixed views.
The central bank has revealed that the Zimbabwe Gold, called the ZIG has strengthened a day after its debut.
To discuss this further is Economist and Former Zimbabwe Reserve Bank Advisor, Eddie Cross.
Economist and Former Zimbabwe Reserve Bank Advisor, Eddie Cross.
For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.
Hopeful for stability in Zimbabwe. Zimbabweans have suffered for too long.
Yes because of Mzungus
Unfortunately this won't work. Another failed strategy. The only way Zimbabwe will get out of this situation is a change in Leadership
@@survivingwhitezaddy2.5really now?
@@survivingwhitezaddy2.5white people are also Zimbabweans so as a black Zimbabwean l love my people regardless of their skin colour
@@angawiletennis9798 Their (lineage) is not Zim! Their lineage is european. Please come correct when you're responding to me.
I wish Zimbabwe all the best! Hope they manage this ZIG well!
As long as there is gold backing a currency, thats a proper currency not fiat currency. Welldone Zimbabwe. Watch Zimbabwe grow, don't listen to haters
If the ZiG currency is infact strong, why hasn't government taken a specific stance to accept the new currency for import duty, fuel sales and passport application fees etc
@@KudakwasheBrianMuchini-fd4si 50% of taxes by companies will be in Zig.
The fact that the new currency cannot pay for duty or fuel shows that its worthless
You can have all the gold in the world....Without proper management...it means nothing !!!!
To all the ones who think the gold standard will not work, just simple a question how did the gold standard work before 1973 but can't right now?
other people are seeing this differently ..from my own point of view if this zig holds Zimbabwe is going to boost and its economy is going to rise rapidly Zimbabwe is going to make history
Yep
Currency is backed by economic fundamentals eg production and exports not commodities like gold silver etc
Bullshit...That is NOT your point of view...did you listened to the analyst????
Economy is driven by production through service and goods based outcome. Industrialisation and increase in domestic manufacture is a major factor. When Zimbabwe start to exports more and import less then that will be a break through or when Zimbabwe balances their imports & exports. These is basic economy and I wish Zim the best
This is just the peper they must build industrial, farmers, construction company even myself I can print my own money like Orania in South Africa they use their own money but they have the best agriculture in South Africa.
Congratulations Zimbabwe well done haters gonna hate🇿🇼👏🇿🇦
I like what the guy said. A currency is a piece of paper ❤❤❤❤
Backed by Gold
Anywhere Which currency is not a piece of paper
Great job Zimbabwe 🇿🇼 👏 🔥
The guetion is other countries they can allow that currency ? Zimbabwe is rich with minerals they can build many factors and farmers
ZIG I HAVE FAITH IN YOU MY GUY PLEASE PROVE THE WORLD WRONG JUST ONCE
yesss😭💔I feel you
But the integrity... Is it there?
Well spoken Sekuru Cross
Wonderful news- May Zim continue on the path of great successes.
The other ones were not money, rtgs, bearer and bonds were not money. This is the first time they put real money bcz it's backed by gold.
It's not backed by gold. It's not even redeemable in gold, that's just talk as the former minister of finance, Tendal Biti and other economists explained. You forgot the "special agro cheques". 😂
@@jimmycricket5366You can believe your economist & former minister of finance. But the fact is they are not the current authorities and they have no solution, only criticism. Let the current authorities do their work and prove that they have no gold. Some of you surely have lost sight of real things. Can you truly declare a country like Zimbabwe has no resource of value like gold. If this is the bitterness of regime change please try and employ other political tactics and allow Zimbabweans an economic breather. Maybe you wanted your little gods Chamisa & Biti to inspect the reserves
@@jimmycricket5366 Stick to what you believe now and let's see who wins at the end of day. So some of you are now desperately looking for farming land simply because they believed these desperate politicians you are referring to
This has nothing to with the governor but the government
Currencies of neighboring countries mentioned by Eddie Cross do buy fuel and everything else in their respective countries unlike the scenario in Zim
They must fix our political situation for our currency to run smoothly
There are a lot of countries with a poor economy but are proud of their country.danm them haters l love Zim❤❤❤
This is the 6th time Zimbabwe has launched a new currency, each time it's with much fanfare and whoopla cheering and congratulating them.🤣
In less than twenty years! 😂🤣😂🤮
Confidence in the local currency (new or old) is such exemptions that it does'nt or won't buy fuel, which the public believe is a domain of the top leadership,
As said, our currency won't succeed if we don't have confidence in itz the problem is past solutions have made our people lose hope. If we do not gain confidence and handle our currncy well, it will be like the ZWL as well
They should have done this in 1980 ...its not rocket science that a currency must be backed by gold reserves for it to be stable ..
It belonged to Anglo-American et al then, it belongs to Zimbabwe now
A stable currency means a stable economy. They don’t want a stable economy because it means they can’t steal. Zimbabwe is an authoritarian kleptocracy.
Zimbabwe get back to the right track. We understand the forces you overcame though
Congratulations to my country Zimbabwe
Let us be positive about it than standing with haters
" purely semantics " got me there😂
Me as a Zimbabwean i am proud right now at least there is something not to be quiet and that's something else i have hope nomatter what people's are saying don't care .
Well done.
Seems like the Zig is already starting to Zag. 20 to the USD at present moment and climbing
All religions recognized minted Gold and silver coins as currency Empires and Kingdoms thrived on this
The only the problem is the westerns, they don't want Zimbabwe to have its own currency .
You dumb
No dude,…. Zimbabwe screwed itself up, by itself, from poor governance.
Mugabe attacked farmers.
Mugabe stole the country’s money and put it in offshore bank accounts.
Every country in the world has its own currency, only bankrupt shitholes🤣 do not.
lies, was Zim dollar not Zim's own currency?
You all like to lie to you😂😅
Hi there is big difference btw, RTGS, BR check this is money papa.
I pray for a great recovery of the Zimbabwean economy and political stability. Zimbabwean are the most greatest and peaceful people in Africa
Smart move
Well done Zim we want our country back tied of living outside our
very nice 👍
Can I exchange my old Zim dollars for zig's at the Zim embassy in Pretoria?
What were you using it for in RSA?🤔
It's a shame Reading these comments. If only people knew how this currency doesn't make a difference. Government office, Tollgates and Other business Reject this Zig and only Accept US$ Dollar 💰. The problem is the Structure Economy and Corruption in Government
Don't lie to pple bcz zig is not yet in circulation. It will be in circulation from 1 May 2024.You are 1 of these pple who are spreading lies about Zimbabwe. The only thing tht happens is most pple don't like to sell in rtgs and Zim dollar since they knw ther is zig coming. Bt it's stl allowed to trade in those currency till end of this month. And US$ will remain in the system bcz Zig is not going to be a lot in the market since it's controlled with how much gold RBZ have in its reserve.
True. Basic fundamentals.
We are very proud of zig
What of a zag?😂
From the scripture _"Haggai 2:8".
From me -
May all be well with Zimbabweans.
zig ....
south africa should follow suite. nationalise the gold mines and turn the money to a gold backed one. give the people their wealth back
Economy is people so long as you dont have the confidence of the people you can call a currency whatever you want , it will fail.
You can print Zimdollars, Bond notes and ZIGs, or create them electronically, but you can´t print gold. And you can´t force people to have confidence in yet another new paper currency, until and unless you prove that you are serious in maintaining stability this time around. A gold backed paper currency is paper, if it cannot be converted to gold, to US dollars or Rands, or used to buy items of value.
Economics is a study of a lack of....Mineral currency ensures redistribution of wealth in true practice surely
They should revert the USD to foreign exchange reserve as it was originally.
So the gold found in Zimbabwe is nothing compared to USD or you simply don't understand the relationship between gold & USD
people like you will never succeed in life because of your negativity..stay away
@@courtneyH263 excuse me . Stay away from my country. Are you mad ?? What pipe are you smoking. What a nerve ? Who the f are you ??
Hello this is Zimbo talking not USD lobbyist. Negativity my foot . So success is all and everything American. Every country has its own national currency. Pray tell why do you believe it should be different for my wretched country? USD is the USA 's national currency . People like me meaning black mentality. What is not positive about advocating for the autonomy of my country. ? Negativity that is rich for a puppet. Get a green card and move over there for USD
@@courtneyH263 off course can't take the shovel of Crap hence the sponsorship . My voice as a Zimbabwean is stifled unless l sing the hate for myself and my country.
Ridiculous . Go away my foot . Fake democracy and civility . Never make in life unless there is a lobby for further distraction of my country . If you are Zimbabweans why hide ? If not what is your interest ?? It seems you have a licence to denigrate others. Hence you comment it still up . .
They must put zimbabwe kwacha
Zambia kwacha is less than rand the rate is 0,75 =1000kwacha to rand 750
What I learn here Zimbabwe government should manage this currency
Hey
Guy uku kuteya nzou neriva,as I m understand the amount of of gold of previous current was 500 000 now this 1 is 65000,guy uku kutambisirwa nguva
Allua continue Kaddafi,s dream
"the U.S. printing of currency......doesn't seem to have much influence on in inflation in the USA" Say What!? While the rate of inflation in the US is not what it should be considering what has been "printed",inflation is increasing at a high rate.
But you can see from his face without confidence 😅😅
Great Idea!! Now all they have to do is find someone who will let them use their gold to back it cause according to Mr. M, they don't have any. Popcorn anyone?
When the Zig came out it was $13 to US$1, a week later it's at $20 to US$1, and the official paper money isn't even out yet. The fundamental issues haven't been addressed, it's doomed to fail like the previous ones if things don't change.
Don't tell us about your street economics. Explain how you came up with that rate
@@PMaps-qp8ug the black market is a business, they do it for profit. There's demand for the black market because 80% of transactions are done in USD. Fuel is in USD, duty is in USD, passports are in USD.
FYI the black market is supplied with money by government officials. The last time Zimbabwe released the bond notes money which they've now replaced with the Zig, the black market already had them before the banks and before being officially released to the public. Don't be surprised seeing the Zig notes on the black market before they're in the banks.
The fundamentals are wrong and it's set to fail.
Sphatheleni uzolamba
10 kg of maize meal is 100 000zig go and check right now 😅😅😅😅
African union should use gold bonds to trade and ditch USA Dollar.
Big up Zim❤🎉
Will the Zimbabwe debacle ever be solved ?
Wait until BRICKS introduce a new currency.. the whole world 🌎 will shake. CIA and FBI will be everywhere 😂
We must just annex Zimbabwe and make it our 10th province, Mnangagwa as a Premier.
No we don't want Zimbabweans to penetrate healthy neighbouring economies with their corruption and destruction.
Speak for yourself
Is it not already 😅
Zim people can go to SA with or without passport 😂😂…………
Zimbabwe has a lot of province and behind in development which will just be a burden to SA more what it is already
The informal market kills us in Zimbabwe
they takeyour US Dollars and replace with ZIG thats how they make money
It has 100% to do with Gold what on Earth is this guest talking about. A currency backed by Gold creates the stability else you'll just face the same issue again - excessive money printing
It's just talk that's cheap... It's not ACTUALLY backed by gold.
PEOPLE/ COUNTRY WILL START TO RESPECT YOUR COUNTRY IF YOUR DOING HONEST BUSINESS TRANSACTION AND AT THE SAME TIME IT WILL HELP YOUR CURRENCY TO GAIN RESPECT..OTHERWISE AFRICAN NATIONS ESPECIALLY THEIR LEADERS ARE KNOWN TO BE CORRUPT LEADERS, NOTHING WILL CHANGE.
UK citizens are still asking when their billions of tax pounds that were mismanaged and corruptly allocated to Conservative party cronies and chums, including a company run by the brother of the then health minister's sidechick's brother during covid, will be restored and channelled into nurses' and doctors' stagnant salaries. So take that patronising tripe and hypocrisy about African leaders corruption and play it to an audience of meerkats. Corruption is the blight of politicians, not Africans in particular. Ask Donald and Boris and Zelensky's wife for that matter.😉
It wont work
why dont you help others
They don't have faith on their money and so the public 😢
They are the riggers of economic destruction and should be held accountable
How many ZIG do you need for 1 ounce of gold?
Zig are tissue in one month it will be USD 1 equivalent to 5 trillion zig
6th attempt😂😂 the blind leading the blind!!
🤣😂🤣😂🤣😂🤣😂🤣😂
Big up Zim
Well done Zim
The currency is not the problem in Zimbabwe, Zanupf is the problem...they MUST go to have a better Zimbabwe!! You cant keep rigging elections and expect a stable currency...never!!
The ZIG could be the BRICS currency
😂 we don't associate with madness in BRICS
@@Bbb-ml4gb
Economy much bigger 😂😂😂😂😂😂😂 ok old man, sit down
Riding a dead horse 🐴🐴😅😅😅
Can you pay your taxes in Zig? If not then it is worthless.
Strongest currency,fiscal surplus kudi anotaura zvekumama uyu
😂😂😂 accusing the bank governor of printing more money as if it wasn't under the instructions of the ruling class for their black market forex purchases. 😂😂😂😂 Eddy is smart which is why he looks ridiculous when defending wrong economic policies 😂😂
What happened to Eddie’s face? Full of bruises
How many times has zim changed currencies? Another scam this
Zig😂😂
And sharko😂
Ziggy zaggy.
Band the use of foreign currency in Zimbabwe and give the new currency a home....
If this doesn't work out they'll rush for foreign intervention we all know the biggies of zim and Africa in general are corrupt
All failed ZW currencies start like that…they strengthen in the first week or two and than the slide begins and it never ends. Their solution would be to start adding zeros and more zeros😂😂😂
Its looks okay today, give it a year, it will be the lowest value with millions to carry in wheelbarrows. Silly business
😂😂😂😂😂😂😂
That zig is worth nothing 😮😮😮
Matsotsi Aya Mari haina value iyi
Zidofo😮 hautonyare
Zidununu iri
But was Eddie beaten up or something? What’s your with the black eye and bruises
😂
😂😂he is sick and old
Someone robbed his zig dollars 😂
Why on earth would they suggest that it is backed by gold if it is NOT
Zambia doesnt have a stronger currency than South Africa.. Fake News
Zambia pegged it's Kwatcha a year ago it was strong but not for long honey moon giant last 6Months😅
With the noise of the zimbos on social media, you would think they understand how currencies work.😅
My thinking of the 'ZIG', is really a sad story, for those who has seen how the Zim government running the trading of gold, like a drug loard, runns a drug on the street, where are the brilant minds of Zim?
'Zig' is short for 'this is how the politicians have being Zig Zaging' the country it's comics 😅😅
Beware of this old man's lies people.
This gentleman must gather his facts correctly. South African rand value is higher than Zambian and Botswana currencies...
Zambian kwacha and Botswana pula value is higher than SA,do your research
Nope Botswana pula is powerful than rand
Botswana Pula is stronger
Easy Math. I USD = 18.70 Rands, = 13.64 Pula, = 24.89 Kwacha. The rand is stronger than the Zambian Kwacha but weaker than the Botswana Pula. He is getting old so he was partially correct.
@@muchit3629 😂cool
tts a great move thanks Zimbabwe only stupid haters will always criticize uraaaa
Big up Zim