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EconomyThe IMF is concerned that Zimbabwe is introducing an official gold-backed digital...

The IMF is concerned that Zimbabwe is introducing an official gold-backed digital currency

Gaston de Persigny
Gaston de Persigny
Gaston de Persigny - Reporter at The European Times News

The way of using crypto-wallets and analog digital assets in the world has not received the support of the International Monetary Fund (IMF) and the position remains unchanged today.

Recently, he warned the Zimbabwean government about the introduction of the official digital currency of the Central Bank (CBD), backed by gold. The peculiarity in Zimbabwe is that this country introduces its digital currency as an alternative to the American dollar.

The Central Bank of Zimbabwe started offering digital tokens to investors on Monday at a minimum price of $10 for individuals and $5,000 for corporate and long-term entities. Part of the policy for reducing the pressure on state dollars, which replaces the unit of income, which is the estimated value for transactions. The token will also be used for transactions.

MBF hopes that the new digital asset will not be of use to the economic system of the city. The fund believes that in order to launch a digital wallet backed by gold, Zimbabwe must liberalize its currency reserves. According to an anonymous source familiar with the matter, he has to make a careful assessment of the potential features of the new cars that he benefits from. they must exceed macro-economic figures and payments for financial stability, public, operational and other figures.

It is known that this African company has started to exchange small Zimbabwean dollars for gold-backed digital tokens in order to be able to preserve savings from market turbulence. It is expected that the use of the government coin will contribute to the implementation of partial inflation control in the country.

The representatives of the IMF allegedly contacted the Zimbabwean authorities and warned them not to add “crypto-type” assets to the local financial system. As an alternative, the International Monetary Fund suggested that the Zimbabwean authorities should introduce this kind of monetary policy in addition to the liberalization of the currency reserve, in order to protect the country from market shocks.

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