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Zimbabwe to succeed the current multi-currency system, which the authorities consider a temporary arrangement. The analysis suggests that some form of official dollarization has significant advantages. Arrangements with the Zimbabwe dollar as sole legal tender could be unstable in the absence of a sufficiently long track record of sound policies.
This paper is a bird s eye view on the pros and cons of dollarisation on the Zimbabwean economy. On January 29, 2009 Zimbabwe fully legalised the use of foreign currency for domestic transactions releasing the economy from the grip of the Reserve Bank which had printed enough money to drive the country into hyperinflation.
Sep 1, 2009 · The first impetus to Zimbabwe’s drive to hyperinflation and official dollarization predates the disruption in production caused by the fast-track land reform programme. The initial push came from the departure from relatively disciplined fiscal policies to a string of measures aimed at pacifying restive groups threatening political power through the transfer of economic and financial ...
Jun 25, 2008 · At present (early June 2008), inflation is unofficially about 2.5 million percent a year. Not surprisingly, the Zimbabwe dollar has lost more than 99.9 percent of its value against the U.S. dollar ...
Fi gure 1. Zimbabwe: CPI Inflation. (12 month inflation in perc ent change) Source: RBZ data and CPI estimates by Ro bertson (from June 2005) According to Hanke and Krus (2 0 12 ), the Zimbabwe ...
Zimbabwe’s 2008 hyperinflation is said to be the second highest in recorded history, and provides an interesting case study of policy failure. We explore possible motivating factors behind the ...
Nov 17, 2019 · In order to test the hypotheses put forward by authorities in Zimbabwe (outlined in Chap. 2) for the hyperinflation from 2006, this chapter implements the empirical strategy laid out in Chap. 5 and describes the results. Chapter 5 describes how high inflation in Zimbabwe from 2000 was viewed, by authorities, through two prisms. Here we test ...
