Zimbabwe launched a new gold-backed currency known as the Zimbabwe Gold (ZiG) on 8 April 2024, replacing the Zimbabwean dollar. With the introduction of the new currency, it is expected that transactions conducted in U.S. dollars, which is accepted in the country, will drop from 80% of all business transactions to 70% by the end of the year. The goal is to return to a single currency by 2030. The government reportedly plans to increase demand for the ZiG by mandating companies to settle 50% of their quarterly tax payments using the new currency. The government also intends to specify...