Mnangagwa Praises Falling ZiG
11 June 2024
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By A Correspondent

In a bid to address growing skepticism surrounding Zimbabwe’s freshly introduced Zimbabwe Gold (ZiG) currency, Mr Emmerson Mnangagwa stepped forward to defend it in a recent statement issued by the ruling party, Zanu PF.

The Zanu PF President reassured the nation that ZiG is not just stable but also firmly backed by ample gold reserves, emphasizing trust in the currency’s robustness and its potential to drive economic growth.

According to the statement released over the weekend, Mnangagwa asserted, “ZiG Currency is Solid and Backed by Ample Gold Reserves.”

This declaration aimed to dispel doubts and restore faith in the country’s economic strategies under the new currency regime.

Mnangagwa’s remarks come as a response to increasing scrutiny and concerns over the viability and sustainability of ZiG since its inception on April 5.

Mnangagwa highlighted the significance of this milestone, emphasizing how the currency’s implementation has been pivotal in fostering confidence among both the local populace and international stakeholders regarding Zimbabwe’s economic future.

In his defense of the ZiG currency, Mnangagwa underlined that extensive research conducted by the government had substantiated the currency’s reliability and its promising prospects for economic growth.

The assurance of substantial gold reserves serving as a solid foundation for the currency implies a strategic move to cement ZiG’s position as a credible alternative to previously volatile monetary systems.

In response to criticisms regarding the sustainability of ZiG, Mnangagwa reiterated, “Developed over two years, ZiG has achieved public acceptance, ensuring exchange rate and price stability.”

This assertion not only reflects the President’s faith in Zimbabwe’s economic agenda but also signals a commitment to maintaining the newfound stability within the financial sector, critical for the country’s overall progress and development.

The government’s steadfast defense of the ZiG currency underscores a broader push to reshape Zimbabwe’s economic landscape, steering it towards a path of sustainability and growth.

President Mnangagwa’s unwavering stance on the reliability and robustness of ZiG serves as a rallying call to both national and international stakeholders, urging them to embrace and support Zimbabwe’s currency reforms.