President Mnangagwa announced during today’s Cabinet meeting at the State House that Zimbabwe is on track to unveil its own regulated currency as part of the government’s strategy to curb rising prices and foster a more favorable economic climate.

In his statement the President said, “Prudent fiscal and monetary policies and the promotion of a conducive business environment remain critically important for the stability and growth of our economy. Accordingly, the fiscal and monetary authorities are implementing a raft of policy measures to arrest price increases, stabilise the foreign exchange rate, maintain the value of our currency, and ultimately encourage savings. We shall soon be announcing the introduction of our structured currency.”

Price increases have been rampant in the nation, primarily driven by speculative devaluation of the domestic currency.