Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu has said the move to the exclusive use of ZiG for all domestic transactions will not be driven by a fixed date, but by the fulfilment of specific economic conditions.
Presenting the 2026 Monetary Policy Statement on 27 February, Mushayavanhu explained that the move towards a mono-currency system based on ZiG would be gradual and anchored in sustained macroeconomic stability, in line with the National Development Strategy 2 (NDS2).
He stressed that the transition would only take place once key conditions have been met. These include durable macroeconomic stability marked by low, single-digit inflation; adequate foreign currency reserves covering at least three to six months of imports in the medium to long term; and an efficient foreign exchange management system that removes market distortions and ensures easier access to foreign currency for legitimate needs.
Other requirements include stable exchange rate movements with minimal over- or undervaluation of the ZiG, increased demand for the local currency through adjustments to the proportion of government taxes paid in ZiG and wider use of ZiG for public sector goods and services, and overall financial sector stability.
Mushayavanhu added that the country must also maintain an efficient and secure national payment system to make transactions in ZiG seamless, as well as strong coordination between fiscal and monetary policy, supported by low and sustainable budget deficits.
Under a mono-currency system, he said, all domestic goods and services would be priced and paid for exclusively in local currency, while foreign currency would be reserved strictly for external transactions.
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