Zimbabwe Eyes Gold-Backed Currency to Fortify Financial Stability Zimbabwe is exploring the option of backing its currency with gold to stabilize its exchange rate, according to Finance Minister Mthuli Ncube. This announcement comes as part of efforts to address the ongoing instability of the Zimbabwe dollar, which has struggled since its reintroduction in 2019 after a period of hyperinflation. President Emmerson Mnangagwa also indicated plans for a “structured currency” to overhaul the current system. Despite previous attempts, including the introduction of gold coins and digital tokens, to support the currency, the Zimbabwe dollar continues to perform poorly. These efforts have faced criticism from the International Monetary Fund, which has questioned the unconventional methods employed by Zimbabwe to improve its currency’s value. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Complete Guide To Buying Gold & Silver READ MORE US Debt and the Rising Specter of Bond Vigilantes: A Financial Stability Threat? READ MORE Gold Market Shines During Spring Festival, Yet Slower Growth Expected Ahead READ MORE Silver price pulls back as early Fed rate-cut hopes fade READ MORE Persistent Inflation Challenges Eurozone, Core Prices Higher Than Anticipated READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment