The sanctions were imposed through various instruments, including the Zimbabwe Democracy and Economic Recovery Act (Zidera) enacted by the US Congress in 2001.

Taking into account maize, traditional grains, and wheat, the strategic grain reserve amounts to 434 293 tonnes, excluding the 25 000-tonne donation from Russia to the President.

The ZiG was launched on April 5, 2024, with the government claiming to back it with reserves amounting to a substantial sum of up to US$285 million.

This downward trend has not only impacted the country's economic prospects but has also highlighted the urgency of revitalising the rail sector.

Proplastics reported that it suffers energy costs of US$0,23/kw, compared to a regional average of US$0,10/kw.

The Zimbabwe’s new gold-backed currency, ZiG, has not moved on the formal market since its introduction in April and this has resulted in wild cheers by an ignorant populace.

During the first quarter, the Zambezi River Authority (ZRA) maintained a 16 billion cubic metre water allocation to Zimbabwe Electricity

Despite the decline in turnover, the total number of shares traded on the ZSE in August increased by 26%, from 93 602 700 in July to 118 159 000.

In this light, what then stands as a better devil for the economy between a full-blown dollarisation drive and sticking to a volatile series of local currencies?

Suffice to say most modern economies maintain gold and physical forex reserves to anchor currency value when the market fluctuates.

Establishing a similar inflation-targeting policy or at least providing a transparent roadmap for interest rate adjustments

These affiliations have made them the preferred banks for exporters, importers, and large corporates, particularly due to their unmatched expertise in processing foreign exchange transactions.