For the fifth time in Zimbabwe’s history, its currency has just collapsed…
As Decrypt.co’s Adriana Hamacher reports, Zimbabwe’s government suspended all mobile money payments, including operations by dominant provider Ecocash on Friday. The Zimbabwe Stock Exchange was also ordered to stop trading, in a dramatic escalation of the nation’s currency crisis.
The government claims the move is to avert a conspiracy to sabotage the collapsing Zimbabwe dollar. But millions of Zimbabweans rely on digital payment operators because obtaining physical cash is so difficult. Ecocash is also commonly used to buy Bitcoin.
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Update: Zimbabwe halts stock trading, mobile money transfers (The Guardian)
WNU Editor: The Zimbabwe government is blaming everyone but themselves for their chaos. Here is an easy prediction. With these new measures the situation is going to get worse.