Using the ZiG as legal money will boost economic sovereignty and eliminate foreign currency dependency, Information Secretary Nick Mangwana said in an opinion piece published in the local newspaper.
"The benefits of de-dollarization far outweigh the costs, making it an urgent imperative for Zimbabwe to break free from the US dollar’s grip," he said. "The US dollar’s dominance in global trade and finance has long been a double-edged sword," the official underlined.
Planning and growth require economic stability and predictability, which the ZiG has delivered since its establishment. Its stable exchange rate with the US dollar and broad appreciation have allayed initial policy-shift fears.
Zimbabwe aims to diversify its economy away from the US dollar, following the example of countries like Saudi Arabia, which has started trading oil in other currencies.
Zimbabwe has already taken steps towards de-dollarization by introducing the new international currency code, ZWG, which could increase the ZiG's value and popularity both domestically and internationally. Although concerns about losing savings and purchasing power persist, the current administration has demonstrated the fiscal discipline necessary to guide the country towards a stronger, more independent economy.