Could Zimbabwe’s 2030 currency plan backfire? World Bank raises alarm
Zimbabwe plans to phase out the US dollar by 2030, but the World Bank warns that moving too quickly to a ZiG-only economy could backfire. Zimbabwe’s plan to phase out the US dollar and make the Zimbabwe Gold (ZiG) the country’s sole domestic currency by 2030 has come under scrutiny, with the World Bank warning that moving too quickly could undermine recent economic gains.
The international lender says the destination may be reasonable, but the timing and sequencing of the transition will be critical.
Zimbabwe’s 2030 currency plan faces a major test
Zimbabwe has set 2030 as the deadline for ending the domestic use of the US dollar and moving towards a mono-currency system based on the ZiG.
The ZiG was introduced in April 2024 after years of instability in Zimbabwe’s local currency.
The move followed repeated currency crashes and high inflation, which had pushed many businesses and consumers towards the US dollar. However, the World Bank has warned against forcing a switch before confidence in the local currency is firmly established. https://www.thesouthafrican.com/news/zimbabwe/could-zimbabwes-2030-currency-plan-backfire-world-bank-raises-alarm/
The South African
Can redesigned ZiG notes win back Zimbabweans?
Zimbabwe introduces upgraded ZiG banknotes with enhanced security and Big Five designs as inflation falls signalling renewed confidence.
9September 8, 2026 907 9
