Zimbabwe Defies IMF Directive to Sell Millions of Gold-Backed Crypto Assets; Terms It a Success

The Reserve Bank of Zimbabwe (RBZ) has sold gold-backed cryptocurrencies valued at 14 billion Zimbabwean dollars despite a warning by the International Monetary Fund against adopting the digital currency to address the country’s macroeconomic problems. RBZ Governor Dr John Mangudya announced in a statement on May 12 that the central bank had received 135 applications