IMF cautions Zimbabwe against plan for gold-backed digital money

The country's central bank started selling digital tokens to investors on Monday for a minimum price of $10 for individuals and $5,000 for corporates

09 May 2023 - 20:59 By Ray Ndlovu

The International Monetary Fund cautioned Zimbabwe against adopting a gold-backed digital currency to deal with macroeconomic challenges such as volatility in the local unit, saying it should rather liberalise its foreign-exchange market. ..

There’s never been a more important time to support independent media.

From World War 1 to present-day cosmopolitan South Africa and beyond, the Sunday Times has been a pillar in covering the stories that matter to you.

For just R80 you can become a premium member (digital access) and support a publication that has played an important political and social role in South Africa for over a century of Sundays. You can cancel anytime.

Already subscribed? Sign in below.

Questions or problems? Email or call 0860 52 52 00.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.