Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu delivered the 2026 monetary policy statement on 27 February 2026, outlining key changes for exporters, miners, and the country’s currency framework.
Exporters will continue to receive 30 per cent of their earnings in Zimbabwe Gold (ZiG). Small-scale gold miners, who supply most of the country’s gold, will now receive 90 per cent of payments in US dollars and 10 per cent in ZiG, a change from the previous 100 per cent USD payments when selling gold to RBZ’s Fidelity.
Mushayavanhu announced that there is no longer a fixed 2030 deadline for ending the multi-currency system and switching fully to ZiG.
He said that the focus will now be on meeting key economic conditions, including low inflation, an import cover of three to five months up from 1.5 months, an efficient forex market, and a stable ZiG supported by strong demand.
Even if Zimbabwe fully adopts ZiG, said Mushayavanhu, contracts in US dollars will continue to be paid in USD, and foreign currency accounts will remain unchanged.
The RBZ will issue a new series of ZiG notes on 7 April in denominations of ZiG10, 20, and 50, with the ZiG100 and 200 notes to follow later. Coins will also be reissued to prevent price distortions.
Despite inflation falling below 10 per cent and calls to cut interest rates, Mushayavanhu has maintained the benchmark rate at 35 per cent, arguing that it is too early to relax monetary policy and that inflation expectations still need to be firmly anchored.
Related:
ZiG Year-On-Year Inflation Falls To 3.8 Percent
Zimbabwe On Course For Full Return to Local Currency By 2030 – Mushayavanhu