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White immigration to the Company realm was initially modest, but intensified during the 1900s and early 1910s, particularly south of the Zambezi. The economic slump in the Cape following the Second Boer War motivated many white South Africans to move to Southern Rhodesia, and from about 1907 the company's land settlement programme encouraged more immigrants to stay for good. [5]
Annual inflation in Zimbabwe hit 55.3% in March 2024. [8] The ZiG is notionally divided into 100 cents, which were first used by the Zimbabwe Stock Exchange before the currency had an ISO code. Cents were officially recognized by the Reserve Bank of Zimbabwe when a currency code for the Zimbabwe Gold was introduced in June 2024. [9]
The economy of Zimbabwe is a gold standard based economy. Zimbabwe has a $44 billion dollar informal economy in PPP terms which translates to 64.1% of the total economy. [ 22 ] Agriculture and mining largely contribute to exports.
On 5 April 2024, the Reserve Bank of Zimbabwe announced a new currency to be introduced on 8 April 2024, called the Zimbabwe Gold (ZiG), replacing the Zimbabwean dollar. ZiG is to be backed by a basket of reserves comprising foreign currency and precious metals (mainly gold). Zimbabweans were given 21 days to convert their cash into ZiG.
Zimbabwe Rhodesia (/ z ɪ m ˈ b ɑː b w eɪ r oʊ ˈ d iː ʒ ə, z ɪ m ˈ b ɑː b w i r oʊ ˈ d iː ʒ ə /), alternatively known as Zimbabwe-Rhodesia, also informally known as Zimbabwe or Rhodesia, was a short-lived sovereign state that existed from 1 June 1979 to 18 April 1980, [1] though it lacked international recognition.
The BBC issued its report on 26 June, recommending the privatisation of the Zimbabwe Broadcasting Corporation and its independence from political interests. [ 38 ] [ 39 ] Mugabe's government changed the capital's name from Salisbury to Harare on 18 April 1982 in celebration of the second anniversary of independence. [ 40 ]
Zimbabwe has been in talks with creditors, led by the African Development Bank, since 2022 to restructure its $21 billion in debt, with the white farmers’ compensation a sticking point. In 2020, President Emmerson Mnangagwa’s government signed a compensation deal with the white farmers.
Zimbabwe considers that the CHOGM statement only permitted the Troika to go beyond an expression of collective disapproval if something adverse was reported on in the Commonwealth Observer Group Report pertaining to the period after the CHOGM statement issued and ending at the time when the voting in the election ended (7 days in total).