Zimbabwe has confirmed it will not rush to abandon the US dollar in favor of its gold-backed ZiG currency, pushing the mono-currency target to approximately 2030. The US dollar currently accounts for approximately 85% of all transactions in the country, a dominance rooted in deep generational distrust of anything Harare prints. The ZiG, launched in April 2024 with approximately $285 million in backing assets, saw annual inflation fall to 3.2% in July 2026, down from triple-digit levels in previous years. The government also introduced a regulatory framework for digital assets in June 2026, requiring virtual asset service providers to register with the Financial Intelligence Unit for an annual fee of $500.
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