Zimbabwe Has No Long Money

Reserve money in Zimbabwe expanded 51 percent year-on-year to April 2026. Month-on-month growth hit 10 percent—a pace that would annualize above 200 percent if simply repeated rather than compounded. Broad money, M3, grew 46 percent year-on-year over the same period, the fastest since the current central bank governor took office. Strip away the technical vocabulary and one plain fact remains: Zimbabwe’s central bank has rediscovered the inflationary printing press.

Donald Lee Wine, Jr. is an independent writer, researcher, musician, and founder of The Night Signal Collective.