ZIMBABWE-HARARE-GOLD-BACKED CURRENCY-INTRODUCTION

(240406) -- HARARE, April 6, 2024 (Xinhua) -- New governor of Reserve Bank of Zimbabwe (RBZ) John Mushayavanhu presents the 2024 monetary policy statement in Harare, Zimbabwe, April 5, 2024. Zimbabwe on Friday introduced to the market the much-awaited structured currency that monetary authorities expect to foster currency stability and contain rising inflation. The new structured currency, known as the Zimbabwe Gold (ZiG), will be backed by a basket of foreign exchange reserves and precious metals, mainly gold, being held by the Reserve Bank of Zimbabwe (RBZ), or the country's central bank. (Photo by Shaun Jusa/Xinhua)