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Significance
After a month of fuel protests and a violent military crackdown, Mangudya on February 20 effectively acknowledged Zimbabwean bond notes and electronic RTGS bank balances as part of a new currency scheme. The authorities' latest attempt to stabilise the parallel foreign exchange market, the RTGS dollar, will trade on a new interbank foreign exchange market on a ‘willing-buyer, willing seller’ basis.
Impacts
The recent extension of US sanctions will likely delay the prospect of a new IMF funding programme over the short term.
The government will struggle to improve its international reputation despite a heightened public relations drive.
Recent public protests are likely to have delayed the introduction of a brand-new national currency for now.
Keywords:
Zimbabwe,
AF,
economy,
industry,
international relations,
politics,
social,
banking,
fiscal,
government,
monetary,
opposition,
policy,
protest,
human rights,
military,
police,
security,
Fossil fuels
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2019
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