Zimbabwe made gold legal tender and reintroduces gold standard

[searcher]

Related.

IMF Staff Completes 2025 Article IV Mission to Zimbabwe

An International Monetary Fund (IMF) staff team led by Mr. Wojciech Maliszewski visited Harare from June 4 to June 18, 2025, to conduct the 2025 Article IV Consultation.

www.imf.org

 

[searcher]

Zimbabwe just drew a hard line for foreign miners concerning its gold

Zimbabwe is stepping up its campaign for resource-driven industrialization by prohibiting foreign individuals and firms from participating in small-scale gold mining, the latest move in a larger strategy to boost local ownership and promote the domestic mineral industry

africa.businessinsider.com

 

[searcher]

Zimbabwe’s gold rush gains momentum as new $1 billion mine targets 100,000 ounces a year

Zimbabwe’s Dokwe Gold Project has crossed the $1 billion mark after a major reserve increase, adding momentum to the country’s gold boom and production ambitions

africa.businessinsider.com

 

[pmbug]

It's been a while since I checked on Zimbabwe's Zig experiment...

Zimbabwe has received strong admonition from the World Bank about its strategy to completely dedollarize its economy.

• The World Bank has warned Zimbabwe about its plan to rapidly dedollarize and rely solely on its new gold-backed currency, ZiG.
• Immediate dedollarization could cause capital flight and disrupt economic stability if trust in the ZiG is not established beforehand.
• Zimbabwe aims to prohibit the use of foreign currencies for local transactions by 2030.
• The World Bank noted that premature dedollarization could harm stabilization gains and widen illegal market activity.

...

https://www.msn.com/en-za/money/gen...oncerned-as-it-sees-trouble-ahead/ar-AA2bIPdX

• Annual inflation measured in Zimbabwe Gold fell to 2.9% in August, down from 93.8% a year earlier.
• The central bank credits exchange-rate stability and tight monetary policy for the sharp slowdown in price growth.
• The decline strengthens Zimbabwe’s latest attempt to establish a stable local currency after years of severe monetary instability.

...

Zimbabwe’s ZiG Inflation Falls to 2.9%, Lowest Rate Since 1980

Annual inflation measured in Zimbabwe Gold fell to 2.9% in August, down from 93.8% a year earlier. The central bank credits exchange-rate stability and tight monetary policy for the sharp slowdown in price growth. The decline strengthens Zimbabwe’s latest attempt to establish a stable local...

www.ecofinagency.com