Kenyan President William Ruto has described Zimbabwe's new currency, the ZiG, as a potential engine for economic recovery in the southern African country.
“This radical revitalisation of Zimbabwe’s monetary policy will contribute greatly to the country’s economic resurgence,” Ruto said.
According to Zimbabwe's central bank, its introduction should bring annual inflation down to between 2% and 5% by the end of the year, and monthly to less than 1%.
The Kenyan leader pointed out that Zimbabwe's vast untapped reserves of copper and lithium, as well as gold, platinum, silver and other valuable minerals, represent enormous wealth.
“It is appropriate that they should be deployed to back the national currency,” Ruto said.