Bitcoin fraud suspect denied bail in Zimbabwe
The suspect allegedly duped an eye specialist of $457,000 worth of cryptocurrency between October 2021 and March this year.
Zimbabwe
Sub-Saharan African currencies have plunged 8% in one year amidst soaring public debts and global uncertainties: IMF
The depreciation has contributed to rising inflation in the region. Notably, inflationary pressures do not decline when local currencies strengthen against the US dollar, IMF says.
IMF and other experts caution against Zimbabwe’s adoption of gold-backed CBDC
Experts say public distrust in the Zimbabwean dollar as a store of value could also be transferred to the newly introduced CBDC.
Inflation in Africa: Latest data shows worsening figures across the board
Figures show 50% of countries with available data experienced an increase in consumer prices in March.
CBDCs, like the eNaira, are potentially risky, IMF official says
The IMF MD believes retail CBDCs may result in “unforeseeable” results for central banks.
Zimbabwe plans to launch gold-backed digital currency to counter hyperinflation
This is the latest move by the bank to battle runaway inflation, a depreciating currency, and a dollarized economy, and it is coming amidst controversy in the country’s gold sector.
Zimbabwe cuts lending rate for the second time in 2023
Zimbabwe becomes the second African country to drop lending rates for the second time this year, after Angola.