The Central Bank of Zimbabwe has made a gold-backed digital token sale despite the warning of the International Monetary Fund (IMF).
The Central Bank of Zimbabwe sold digital tokens worth 14 billion Zimbabwe dollars, despite the IMF’s statement on the subject. This sale transaction realized by Zimbabwe is equivalent to 39 million dollars. The Central Bank of Zimbabwe made a remarkable announcement on finance on May 12. Zimbabwe, which announced that it received 135 applications for a total of 14.07 billion Zimbabwe dollars to buy the gold-based cryptocurrency, received many warnings from official institutions.
Explanations from Authorized Names
The conflict between the Central Bank of Zimbamb and the IMF has created a global controversy. Comments from Zimbambwe’s local names made the situation even more confusing. RBZ Governor Dr. John Mangudya expressed his opinion on the events;
“The issuance of gold-backed digital tokens means expanding the value-preserving tools available in the economy and increasing the divisibility of investment vehicles and broadening their reach and use by the public.”
On the other hand, an IMF spokesperson;
“Careful consideration must be made to ensure that the benefits of this measure outweigh the costs and potential risks, including, for example, macroeconomic and financial stability risks, legal and operational risks, governance risks, cost of foreclosed foreign currency reserves.” said.
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