Government directs private, public sector to recognise ZiG as official currency

The Zimbabwe government, through the Ministry of Finance and Economic Development, has directed the public and private sector to accept the new ZiG as the official currency of the government.

In a statement titled Transition from ZWL to the new currency Zimbabwe Gold (Zig): Measures to promote market adoption and acceptance, the government said in part:

• All ministries, departments and Agencies (MDAs), and the private sector alike (including retailers and service providers), advised to accept and recognise the ZiG as the official currency for all financial transactions and payment for all goods and services, effective immediately.
• All collections by government and the private sector shall be made in ZiG or any of the currencies in the multi currency basket without insisting on any specific type of currency or indexing invoices to the USD, unless a specific legislation allows

Furthermore the Treasury added, “To ensure orderly pricing, Government will soon be introducing the necessary regulations to ensure that no exchange rate other than the official rate will be used for the pricing of all and services.”

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