{"id":3930,"date":"2019-07-22T08:16:50","date_gmt":"2019-07-22T08:16:50","guid":{"rendered":"https:\/\/africasustainabilitymatters.com\/?p=3930"},"modified":"2026-01-11T05:30:25","modified_gmt":"2026-01-11T05:30:25","slug":"is-zimbabwes-economy-on-track","status":"publish","type":"post","link":"https:\/\/rayscohosting.best\/ASM\/2019\/07\/22\/is-zimbabwes-economy-on-track\/","title":{"rendered":"Is Zimbabwe&#8217;s Economy On Track?"},"content":{"rendered":"\n<p><strong>By Reality Check team<\/strong><strong>BBC News<\/strong><strong><\/strong><\/p>\n\n\n\n<p><strong>Zimbabwe has not had\nits own independent currency since hyperinflation wiped it out a decade ago.<\/strong><\/p>\n\n\n\n<p>Instead, it has relied on the US dollar along with a local money system pegged to the dollar.<\/p>\n\n\n\n<p>The economy is no longer in its extreme inflationary spiral, but the country has continued to suffer from severe shortages of food, medicine, and fuel.<\/p>\n\n\n\n<p>Last month, the Zimbabwean authorities reintroduced the\nZimbabwean dollar as the country&#8217;s sole legal tender<strong>.<\/strong><\/p>\n\n\n\n<p>Foreign Minister Sibusiso Moyo says this move has stabilized the economy.<\/p>\n\n\n\n<p>But is he right?\nReality Check looks at the country&#8217;s key economic indicators before and after\nthe currency was reintroduced.<\/p>\n\n\n\n<p><strong>Fears of a return to hyperinflation<\/strong><\/p>\n\n\n\n<p>There has been an understandable concern that the return of the Zimbabwe dollar would lead to a return to the chaotic hyperinflation which destroyed savings and made wages worthless.<\/p>\n\n\n\n<p>The most recent\nfigures suggest inflation has risen sharply over the last year. In May it was\n98% and by June, annual inflation stood at 176%.<\/p>\n\n\n\n<p>This is nowhere near\nthe spiraling inflation levels of a decade ago, but the trend has not been\nencouraging. <a href=\"https:\/\/www.bbc.com\/news\/world-africa-48993701\">Read\nmore\u2026<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Reality Check teamBBC News Zimbabwe has not had its own independent currency since hyperinflation wiped it out a decade ago. Instead, it has relied on the US dollar along&hellip;<\/p>\n","protected":false},"author":3,"featured_media":3931,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","pagelayer_contact_templates":[],"_pagelayer_content":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[101],"tags":[],"class_list":["post-3930","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-news"],"_links":{"self":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts\/3930","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/comments?post=3930"}],"version-history":[{"count":0,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/posts\/3930\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/media\/3931"}],"wp:attachment":[{"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/media?parent=3930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/categories?post=3930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rayscohosting.best\/ASM\/wp-json\/wp\/v2\/tags?post=3930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}