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 How & Where to Buy Silver Bars (2024 Buyers Guide) READ MORE Gold prices have been hitting record highs — here’s why the rally is far from over READ MORE Bond King' Bill Gross Warns of Potential Recession and Overvalued Stocks READ MORE Risk of a global recession is minimal, IMF economist says — would take ‘a lot to derail’ READ MORE Add a Comment Cancel replyYour email address will not be published.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