You are here
Ironic: Dollar-enforcer IMF wants to put Zimbabwe on a de-facto gold standard
IMF Wants Zimbabwe's Gold-Backed ZiG to Become Sole Currency
By Ray Ndlovu
Bloomberg News
Monday, June 9, 2025
The International Monetary Fund said it would like to see the ZiG "fully becoming a national currency" as it weighs whether to place Zimbabwe on a staff-monitored program.
The ZiG, short for Zimbabwe Gold, succeeded the Zimbabwean dollar in April 2024 after multiple crashes. It's the country's sixth attempt since 2009 to replace the dollar as the southern African nation’s main transacting currency, but is yet to succeed.
... Dispatch continues below ...
... ADVERTISEMENT ...
Buy, Sell, or Store Precious Metals with Money Metals Exchange
Money Metals Exchange, a national bullion dealer recently named "Best Overall" by Investopedia.com --
https://www.moneymetals.com/
-- is a great low-cost source for precious metals coins, rounds, and bars. Money Metals also pays handsomely when you wish to sell your precious metals.
Shop online with Money Metals Exchange here --
https://www.moneymetals.com/buy
-- or by calling 1-800-800-1865.
Meanwhile, Money Metals Depository will store your precious metals in a segregated account at low cost:
https://www.moneymetals.com/depository
Several measures will need to be adopted to boost ZiG usage, including deepening the foreign-exchange market to ensure full price discovery, said Wojciech Maliszewski, the Washington-based lender's mission chief, who is in Zimbabwe to review its request for a new Staff-Monitored Program. The nation's last program ended abruptly in 2019 after the central bank printed money that fueled the collapse of the local currency. ...
... For the remainder of the report:
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
Donations of $250 will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
