Zimbabwe Will Attempt to Create Gold-Backed Currency On Monday Zimbabwe’s government said it plans to introduce a gold-backed currency to replace the country’s nearly worthless dollar. Minister for Finance and Economic Development Mthuli Ncube told reporters in an online press conference that Zimbabwe was making the move to ensure sustained growth. “Going forward, we want to make sure that the growth we have achieved so far — which is very strong — is maintained and even increased,” he said. “We can only do that if we have further stability in the domestic currency. … And the way to do that is perhaps to link the exchange rate to some hard asset such as gold.” « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Bond King' Bill Gross Warns of Potential Recession and Overvalued Stocks READ MORE Central Banks Boost Gold Reserves to Diversify from the Dollar READ MORE The economy might be booming, but housing is in a recession: Top real estate CEO says he’s never seen anything like it in 20 years READ MORE Markets on Edge: Continuing Coverage of Regional Banking Crisis READ MORE Fed's Current Economic Outlook and the Latest Rate Cut Speculations READ MORE Add a Comment Cancel replyYour email address will not be published.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
