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 December PCE: Core Inflation Dropped More Than Expected READ MORE Analysts Predict Further Gains for Precious Metals Amid Strong Chinese Demand READ MORE De-Dollarization: A Gradual Shift from US Currency Control READ MORE What Could Derail Gold’s Bull Run? One Analyst Says Japan READ MORE High Interest Rates Likely Dampened Americans’ Economic Mood: Study READ MORE Add a Comment Cancel replyYour email address will not be published.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