ED: ZiG Currency Won’t ZiG Zag
9 June 2024
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**Breaking News: Mnangagwa Declares Confidence in Gold-Backed ZiG Currency**

In a bold statement made during his visit to Russia, Zimbabwean President Emmerson Mnangagwa has asserted that the newly introduced ZiG currency, backed by gold reserves, will not waver. “ZiG will not fail,” Mnangagwa declared, emphasizing the solid foundation of the currency.

“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,” Mnangagwa stated. “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.”

The President highlighted the extensive research and preparation that preceded the introduction of ZiG. “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.”

Mnangagwa’s declaration underscores his administration’s commitment to stabilizing Zimbabwe’s economy through the introduction of the gold-backed ZiG currency, reflecting a strategic shift towards leveraging the country’s natural resources to support financial stability and growth.- Ziana