Zimbabwe: no dollar peg & other liberalizing public policies
- February 20, 2019
- - 4:30 pm
Governor of the Reserve Bank of Zimbabwe John Mangudya announced February 20 that the country’s newly created currency, the Real Time Gross Settlement (RTGS) Dollar, will see its exchange rate value determined by market forces, bringing at least partial change to the country’s monetary policy. The creation of the RTGS Dollar, while not a fully liberalizing development, should, however, be seen as part of a package of recent macro-level reforms in Zimbabwe intended to raise domestic and foreign confidence in the Emmerson Mnangagwa-led government and support its calls for sanctions against its officials be removed. The RTGS Dollar replaces electronic …
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