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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

currency

4 Results / Page 1 of 1

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Africa

Zimbabwe adopts ZiG currency as sole legal tender

Zimbabwe’s ruling party has passed a resolution to adopt the bullion-backed ZiG currency as the country’s sole legal tender and phase out the use of US dollars. Bloomberg reports that under the country’s current laws, the US currency will remain legal tender until 2030. President Emmerson Mnangagwa has previously suggested this timeline may be brought forward.

todayOctober 29, 2024 12

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Africa

Angola extends cash tranfer for low-income families

Angola will extend a cash-transfer program for low-income families as a weaker currency and sky-high inflation continue to drive up living costs in the oil-producing country. Bloomberg reports the Kwenda program will run until 2029, following the recent approval by the World Bank of an additional $400 million loan, President João Lourenço said in a speech Tuesday. The project, the first of its kind in Angola, began in 2020 to […]

todayOctober 16, 2024 9

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World

Vladimir Putin’s gold strategy explains why sanctions against Russia have failed

    By Robert Huish, Dalhousie University   There are more than 16,000 sanctions imposed against Russia. Yet the Russian economy and war machine grew by 3.6 per cent in 2023 and is projected to grow another 2.6 per cent in 2024. Nearly six per cent of Russia’s gross domestic product goes towards military spending. At a time when Ukrainian President Volodymyr Zelenskyy is scrambling to acquire arms, funds and […]

todayMarch 19, 2024 10

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Africa

Burkina Faso, Mali and Niger hint at a new west African currency: what it’ll take for it to succeed

    By Thierno Thioune, Université Cheikh Anta Diop de Dakar   On 11 February 2024, the head of Niger’s ruling military junta, General Abdourahmane Tiani, spoke of the possible creation of a common currency with Burkina Faso and Mali. “The currency is a first step toward breaking free from the legacy of colonisation,” he said on national TV, referring to the CFA franc inherited from French colonisation. Burkina Faso, […]

todayMarch 15, 2024 16

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