Zimbabwe is preparing to abandon the US dollar, but the World Bank seems concerned as it sees trouble ahead - Business Insider Africa
Zimbabwe is preparing to abandon the US dollar, but the World Bank seems concerned as it sees trouble ahead - Business Insider Africa
Source: Business Insider Africa
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DW NOTE
Zimbabwe tried this in 2009 — abandoned the local currency after hyperinflation made it worthless, dollarized, and finally restored a semblance of price stability. Now it wants to reverse course and issue its own currency again. The World Bank is polite enough not to say what everyone knows: countries that lack fiscal discipline do not gain it by printing their own money. They just get to monetize the deficit until the currency collapses again.