A new pricing system is the latest indication that Zimbabwe’s economic crisis is fundamentally changing how the country does business. Some vendors and consumers are praising the system – so why are the authorities discouraging it?
A government policy enacted without notice on Oct. 1 eliminated U.S. dollars from bank accounts throughout the country and replaced that money with a new monetary unit that some central bank officials say should be called a “local dollar.” Accessing those dollars had grown increasingly difficult, but seeing them disappear was a crushing blow for people who had saved them.
Gold has been mined in this remote region of DRC for decades, and many mines are controlled by armed groups. But when a new deposit was discovered recently, armed groups didn’t take it over – the people did.