Economic and Financial Committee


Camilo Rivera Vacirca
United States

Cite as

Zimbabwe Position Paper

Topic A: Competitive Currency Manipulation

When it comes to currency manipulation, Zimbabwe has served as a stunning example of what can happen when monetary policy can be voluntarily adjusted by a country. Without levels of currency stabilization, we risk losing confidence in our markets and contagion to rapidly spread. Zimbabwe has restored faith in its economy by adopting multiple currencies as legal tender, fully giving up control over monetary policy to entrust stronger economies with ruling the underlying language of Zimbabwe’s economy. Following the spiraling economic crisis between 2000 and 2008 with spiraling inflation, Zimbabwe’s 2009 short tern economic recovery program led to a reasonable recovery of its revenues.

Currency Manipulation

Competitive currency devaluation, though it attempts to boost export trading, is harmful to both the citizens of the country that employs it by decreasing thei...

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