By Tinashe Sambiri

Zimbabwe’s local currency, Zimbabwe Gold (ZiG), has been identified as the world’s worst-performing currency, according to Professor Steve Hanke’s inflation dashboard.

This week, Hanke highlighted the top five countries facing severe inflation:

“1. Zimbabwe (1385%/year)

2. Sudan (352%/year)
3. South Sudan (214%/year)
4. Nigeria (120%/year)
5. Argentina (71%/year)”

Hanke urged Emmerson Dambudzo Mnangagwa’s government to fully dollarize the economy and focus on addressing fundamental economic issues.

Tendai Biti, former Finance Minister, stated, “Dollarization could provide a much-needed stabilization mechanism, but it requires a comprehensive strategy to restore public confidence in the economy.”