Central Bank of Zimbabwe explores CBDC, reiterates opposition to cryptocurrencies

The Reserve Bank of Zimbabwe (RBZ), the central bank of Zimbabwe, reiterated in its latest monetary policy statement that it prefers central bank digital currencies (CBDCs) to cryptocurrencies. It added that it is now “actively exploring the feasibility of adopting a Zimbabwe CBDC, including specific design considerations. According to a statement released by the bank’s governor, John Mangudya, the RBZ is already developing a roadmap for its CBDC. Mangudya said that in In this context, the Bank is developing a clear roadmap for the adoption of CBDC, including the feasibility and assessment phase currently underway, and the policy design phase based on the results of the feasibility study and implementation. The RBZ added that it will regularly publish information on CBDC Updates on program progress.