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 Gold prices are at an all-time high—but experts like Warren Buffett don’t always recommend investing READ MORE How Productivity Gains Could Shape the Fed's Inflation Battle READ MORE Central Banks Boost Gold Reserves to Diversify from the Dollar READ MORE ZeroHedge: Inflation Already Ruined Your Super Bowl Party READ MORE China's Growing Gold Appetite READ MORE Add a Comment Cancel replyYour email address will not be published.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
