The southern African nation's 15 million people are faced with shortages, inflation and other economic woes, conjuring memories of economic chaos under Robert Mugabe's near four-decade rule of hyper-inflation. Zimbabwe will start selling gold coins from July 25th in a bid to tackle runaway inflation which has hamstrung the local currency. Gold "Mosi-oa-tunya" coins - named after Victoria Falls - will contain 31 grams of gold and can be converted into cash and traded both locally and internationally. Gold coins are used by investors globally to hedge against inflation and wars.
Zimbabwe: Selling gold coins as currency falters
Written by Super User 08 Jul 2022Additional Info
- Pray: for President Emmerson Mnangagwa, his government and financial advisors to establish honest and reliable policies that will avoid further economic disasters. (Proverbs 21:20)
- More: https://news.sky.com/story/zimbabwe-to-start-selling-gold-coins-as-local-currency-falters-12646169
Tagged under