Bloomberg/Ray Ndlovu/7-22-2022
“The government hopes it will break the demand for dollars. Surging prices have sparked calls from state workers including teachers and nurses to be paid in the US currency. The 22-carat coin will be sold at the international bullion spot price including a 5% charge to cover production and delivery costs.”
USAGOLD note: Still don’t understand how issuing a gold coin fights inflation, but the Zimbabwe government continues to tout it as such. It obviously can act as a hedge for those who own it, but as a deterrent to the 191.6% inflation rate raging in Zimbabwe’s economy, we just don’t see it.
