Zimbabwe is trying everything in the book to address a currency crisis that has undermined its productive capacity and threatened its economic sustainability. But its measures so far seem to have had little effect.

The country has since last year flirted with policy reforms aimed at stabilising the flagging financial sector. These began in October 2018, with the separation of local and foreign currency accounts — a tacit recognition by the government that the US dollar-denominated local bond notes and electronic balances were not of equal value to the greenback...

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