Zimbabweans React To The Introduction Of Gold Coins
In light of reports that the Reserve Bank of Zimbabwe (RBZ) is set to introduce gold coins, Zimbabweans have taken to social media to share their thoughts on this new development.
In a statement on Monday, Governor John Mangudya said the gold coins will be introduced as part of measures to ensure investors and the general public have alternative means to preserve value.
He revealed that gold coins will be minted by Fidelity Gold Refineries and will be sold to the public through normal banking channels.
Part of the statement released by Governor Mangudya read:
The MPC resolved to introduce gold coins into the market as an instrument that will enable investors to store value. The gold coins will be minted by Fidelity Gold Refineries (Private) Limited and will be sold to the public through normal banking channels.
However, Zimbabweans are not really interested in the idea of introducing gold coins as they feel it will not help the economy in any way. Netizens believe that just like many failed measures that have been introduced, the gold coins will also meet the same fate.
Here are some of the reactions
Fiat currency in the modern world ndiyo yakushanda izvi zvekudzokera 1923 azvishandi.kusara kwekuda kuba maUS$ edu to fund your campaigns chete chete.we know these big shops nd Cos ndiwo mafunders enyu they put pressure kt mudzose us$ kt vawane zvekkupayi nxt year
These gold coins are not a currency but certificates just like bond notes. They will come & go. Another experiment that doesn’t work at all. If Mthuli is behind all these he knows the consequences. Another way to silence the people ahead of 2023 harmonised election.
Wotambira hako magold coin ako 4 achinzi akaenzana ne400yuwesi, womuka mwana amamenya pic.twitter.com/Um4AYT17F0
— Miss E. (@_MissE1) June 29, 2022
Which Zim dollar? Bond iri? Gold iroro could have been invested into the betterment of health care delivery, text books in schools or proper roads etc, list is endless. But well, tingadii hedu?
Zvekuinspire confidence zvaremaka, now makunyebera kungwara-ngwara. When the politics is right and the funtamentals are right the economy will drive itself. But then again you don’t learn, or you don’t want to learn. Itai tione
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