*Mono-currency? We’re not there yet, says Mthuli* Finance Minister Mthuli Ncube says Zimbabwe is not yet ready to return to a ‘mono currency’. First, the country needs to build enough foreign currency reserves and reach a debt deal with creditors. SI218/2023, gazetted in October 2023, guaranteed the multicurrency system to stay until 2030. However, President Mnangagwa and some officials have publicly called for an earlier switch to a ‘sole local currency’, causing uncertainty and forcing banks to withhold new loans. RBZ says total reserves — gold plus forex — grew 87% from US$285m in April to US$550m in January. This is three times cover of the current ZiG in circulation, according to the latest monetary policy statement.