Zimbabwe’s currency reforms have not gone far enough and complete liberalization is needed to end a critical shortage of foreign exchange that is hampering business, senior executives from the nation’s mining industry said. The southern African country began formal trading in February of what’s effectively a new currency, known as RTGS dollars, through a newly created interbank market. While it abolished a 1:1 peg between the U.S. dollar and the RTGS$’s predecessor, so-called bond notes and their electronic equivalent, trading has been thin and the difference between the interbank rate and the black market remains wide.
