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We’ve Adequate Gold Reserves To Back ZiG - Mnangagwa

9 months agoMon, 10 Jun 2024 09:46:46 GMT
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We’ve Adequate Gold Reserves To Back ZiG - Mnangagwa

President Emmerson Mnangagwa has said the Government worked on the Zimbabwe Gold (ZiG) currency for at least two years before its introduction.

ZiG was launched by the Reserve Bank of Zimbabwe’s new Governor John Mushayavanhu during his inaugural Monetary Policy Statement on April 5, 2024.

Speaking to Russian media outlets in St Petersburg, Russia, Mnangagwa said Zimbabwe has enough gold in its reserves to back the ZiG. He said (via The Sunday Mail):

The focus is on our currency, gold-backed, and we have worked for two years to have it. We have more than enough reserves to back the currency.

All along, we have been using other countries’ currencies and now we introduced a currency backed by gold, but we still have other currencies in circulation, and we are happy we have solid gold and solid currency backed by gold.

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Before I introduced ZiG, we had researched for two years, and we realised we wanted a solid, structured gold reserve-backed currency.

We have more gold; I toured the reserves and saw the gold myself. Our economy is now based on solid fundamentals of the economy.

ZiG has been the official currency of Zimbabwe since April 8, 2024. It is backed by foreign currencies, gold, and other precious metals.

Mnangagwa was in Russia for the 27th St Petersburg International Economic Forum at the invitation of the country’s leader, President Vladimir Putin.

More: Pindula News

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51 Comments

Murambwi · 9 months ago
Mwari chaiye vari kudenge vazviziva and zvakanyorwa kt mwana waChivi uchatonga nyika ino , mus**** maGushungo. Vanhu valachenjera kuto supporter zviripo,kwakutoisa musoro pamwe kuvaka nyika. Tigere hedu zvakanaka wani. Palestine hakuna chakanaka, gehena rosara pasi, zvino muZimbabwe mune runyararo. Kana mukuru wenyika achida runyararo sezvinoitwa nemwana waChivi, mozodei. Let's rally behind our president. Kana Mwari vachida tinosvika chete , pakasvika vamwe.
Anonymous · 9 months ago
Let's 👀
shadows · 9 months ago
#ED pfee for lyf. ngavawawate zvavo hapana chinonjinja
Anonymous · 9 months ago
He doesn't live forever unfortunately.. He is gonna die eventually
Onnie theman · 9 months ago
Guys ngatingobatanai semazim citizens to support our ED President, tajamirira vision 2030
Onnie theman · 9 months ago
SATAN LITE MUKA UBIKE DORO
Onnie theman · 9 months ago
Guys yu are busy saying Zanu is this n that, but muchafa nestress ichingotonga. Zvino chamisa ochembera nenhamo
Satan lite · 9 months ago
uri mroyi
mkoma · 9 months ago
chamisa anoita nhamo yeyi zvake zvakarongeka.
Dzikolati · 9 months ago
Sekuru vangu vakati pane nhema(lies)mbiri. Nhema tema(blue lies) nechena(white lies).Chena ndedzokuti povo ifare ichiti zviri kufamba zvakanaka. Tine grain hapana unofa nenzara muno. Tema ndidzo dzinouraya vanhu nenhamo vachivimba nezvisipo.
Mbada · 9 months ago
Tanzwa nengano dzana tsuro nagudo regai timboona zvedu kwazvinosvika
Wastak · 9 months ago
Kana Paine enough gold to support zig ko buritsaizve marii yacho tione ku simba kwayo nekuti ine gold wakatoenda ku bank zig racho hakutorina murikutyei kuburitsa ma notes acho vanhu vamashandise zig hapana zviripo hatidi kunyeberana udzai vanhu chokwadii
Wa Gutu · 9 months ago
Mad love for Zig. Tinovimba ticharijaira zvedu, tinosvika chete. Gold backed currency --Zig Zig. Kana Russia yakutoridawo mufunge
Anonymous · 9 months ago
As a true show of support, can we buy some helicopters with ZiGs, Mr. Putin?
🏋️🕺⛹️ · 9 months ago
pabepa rakashandiswa pa10 zig tipei maserious
Ptk · 9 months ago
Good evening ED Garwe mupurwa ngwena.
Shadows · 9 months ago
zuro ndi zuro maiyema ku russia (cry babies
Anonymous · 9 months ago
Kurotomoka kwanyanyisa...........
· 9 months ago
Vanzwireiwo tsitsi, mukuru akwegura
Anonymous · 9 months ago
Is this like Hezekiah taking other kings into his vaults to show them his riches? I don't think that is good for the nation.
🤣 · 9 months ago
Like The Emperor's New Clothes?
Anonymous · 9 months ago
Good point.
Ttt · 9 months ago
Chi baby che zanu urikupaona sei iwee
· 9 months ago
Professional Thigh vendor
coni · 9 months ago
zipfambi rekusageza rina mai vanoroya iri riri obsessed nezanupf unoti rine charinowana mazviri zibere rakafa raida ku donate na ed ku Russia nonsense
🏃‍♀️ Chi baby Che Zanu 🌊 · 9 months ago
Iwe na mai vako vasingaroyi muno supporter party isingahwinhe. Muchfa ne stress Ed vachingotonga
🏃‍♀️ Chi baby Che Zanu 🌊 · 9 months ago
Zanu pf ihombe kupfuura ma opposition nevatsigir vacho zvese
* · 9 months ago
True. Vamwe vakatenga ma mansions kuSingapore uye dzimba dzisingaverengeki muno nokuda kweZanu pf. Vamwe vane mafarms asingaverengeke, vamwe magold barons, vamwe malandbarons vamwe ma pindula barons nekuda kweZanu pf.
sad emoji1
🏃‍♀️ Chi baby Che Zanu 🌊 · 9 months ago
Ed Mnangagwa 🇿🇼 number 1.ko vaya vaiti hatisvike muna june Ed vachiri pachigaro, muripi? Dzokerai kune akakupai hope mumuudze kuti akanyepa. Mwari havaiti zvido zvenyu. Vanoita zvido zvavo. Pamberi mberi na Ed.
· 9 months ago
ED Pfeee, Zimbabwe's Enemy No. 1
🏃‍♀️ Chi baby Che Zanu 🌊 · 9 months ago
Vakatenderwa kuvepo na most high.
🖕🏾 · 9 months ago
Chipfambi cheZANU, uri kureva Mbuya Nehanda here? Kana vhoti vaive vasingaizive. 🤣🤣🤣
🏃‍♀️ Chi baby Che Zanu 🌊 · 9 months ago
Who is the current president of Zimbabwe? ED Mnangagwa number 1.pabate ipapo
🖕🏾 · 9 months ago
Zimbabwe doesn't have a President. It has a ruler, who took power first by force and then by Theft
🏃‍♀️ Chi baby Che Zanu 🌊 · 9 months ago
There you go again deceiving yourself. 😂 😂 😂 😂 😂. That is only in your brain. Muka ubike doro.
Zim-Sketch · 9 months ago
the Zanupf I know, if it emphasize things like this it will be lying
🤣 · 9 months ago
its like hevis trying to convince himself that hevisnt burning
👀 · 9 months ago
taurai henyu mukuru wangu your Excellency zig mari tikutoda nezvake vose vachawanikwa varikunze kwemutemo pa currency exchange apa vanongo fanirwa kutongerwa rufu.
· 9 months ago
Watiza nguvai kuIngutsheni?
zuda · 9 months ago
marii iyi inotenga zvakanaka muma big shops and rate ravo rakanaka ,,,,asi pinda muma retail stores Uno chema rate yacho 25.29.18.vamwe 28 pa $1 ,mashava store svikai muite basa vakomana , let us sopport our new currency but vamwe vari kutora senga ma......
· 9 months ago
Godo richakuuraya siya vezvitoro vaite zvavanoda nebussnes ravo vhura chako
rms · 9 months ago
this old madhala Putin has got a lot of his problem he can not donate arms to u bcz he does not have enough for war in Ukraine
☝️ · 9 months ago
asi iwewe unofunga kut Russia ichida zvekuparadza Ukraine zvngatore makore here?maminitsi mashoma shoma bedzi Hondo inenge yatopera apa inhau yekuti after war pakuda kudzikisa bill re reparations
zany · 9 months ago
makore atovepo zvichiratidza kuti zvaifungwa zvakaramba
Appah · 9 months ago
pamberi ne 🇿🇼🇿🇼
,,,,dott · 9 months ago
paZig makaonera dhiri

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