Economics
No Currency, Just a Currency Crisis: Zimbabwe's Woes Deepen
- Deadly protests erupt across the country over surging prices
- Government says it wants a new currency to end dollarization
Protesters march on the road to Harare from Epworth township on Jan. 14.
Photographer: Jekesai Njikizana/AFP/Getty Images
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Not having a currency of its own hasn’t stopped Zimbabwe from sliding into a currency crisis.
A scarcity of foreign exchange has led to long queues for fuel, bread and medicine and sent prices surging. Protests erupted across the southern African country on Monday, leaving possibly five people dead, after the government more than doubled gasoline prices to $3.31 a liter ($12.58 a gallon) over the weekend, the highest in the world, according to data on GlobalPetrolPrices.com.