Zimbabwe's Gold Reserves Reach 4.4 Tonnes, Target 5 Tonnes
Zimbabwe's gold reserves have hit 4.4 tonnes, according to statements made by President Emmerson Mnangagwa and Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu. The government aims to increase these reserves to five tonnes by the end of 2026.
This effort is part of a broader strategy to reinforce the country's gold-backed currency framework. Currently, the RBZ holds 22 billion Zimbabwean dollars in circulation, with only three percent backed by hard currency reserves.
The initiative reflects the government's commitment to stabilizing the economy and enhancing the value of its currency through increased gold reserves.
Plus234Feed summary based on reporting from Voice of Nigeria. Read the original report below.
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