According to the Governor, Zimbabwe has been plagued by currency depreciation.
At the same time, the government is looking to pay annual bonuses to civil servants in U.S. dollars instead of the local currency as using the Zimbabwean dollar could have added to its recent depreciation.
The official rate for the Zimbabwean currency was last at Z$105, having weakened by 29% in 2021. It trades at Z$185 per U.S. dollar on the parallel market.
The government made $120 million in bonus payments to state workers, state-owned Herald newspaper reported, citing Finance Minister, Mthuli Ncube.