RBZ will issue small gold coins for public
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News Date: August 15, 2022![](image/g428.jpg)
Zimbabwe's central bank will issue small gold coins for affordability by ordinary Zimbabweans.
Zimbabwe will release smaller units of gold coins into the market in November this year to respond to public demand, in a move seen to tackle the country's currency crisis through exchange rate stabilization.
'Following the successful launch of the gold coins on 25 July 2022 and in response to public demand, the Bank shall introduce and release into the market gold coins in units of a tenth ounce, quarter ounce, and half an ounce for sale with effect from mid-November 2022,' RBZ Governor John Mangudya said in his mid-term monetary policy statement released Thursday.
Sources: funancial.news
Gold Standard on Kremlin Desk
Russian president Vladimir Putin is discussing the idea of pegging the Ruble to gold And Commodities.If approved this would directly link Russia's currency to gold bullion for the first time in more than a century.
Linking the ruble to bullion could give Russia more "sovereignty" over its financial system.
However, the governor of Russia's central bank, Elvira Nabiullina, told reporters the idea was "not being discussed in any way".
Full article: Reuters
World Bank is urging debt relief
The World Bank's new president, Ajay Banga, is urging swift action in providing debt relief.During a press conference at the Bank's annual meeting in Marrakech, he emphasized the need for expedited efforts to alleviate the economic burdens faced by many nations.
President Banga's message highlights the urgency of addressing global economic challenges and reaffirms the World Bank's commitment to supporting economic stability and sustainable development worldwide.
Executive Order on Ordering the Selected Reserve of the Armed Forces to Active Duty
The Secretary of Defense is directed to order to active duty for not more than 365 consecutive days, any units, and any individual members not assigned to a unit organized to serve as a unit, of the Selected Reserve under the jurisdiction of the Secretary of Defense, not to exceed 200 Selected Reservists at any one time, as he considers necessary.Source:whitehouse.gov
Zimbabwe is engaged to clear IFI debt
Zimbabwe is engaging with the World Bank and International Monetary Fund on how to clear its debts with international financial institutions, finance minister Mthuli Ncube said at an IMF press conference on Saturday.Sources: reuters
Ripple Patent and Standard Outshines Swift
Blockchain payments technology firm Ripple has won a patent for a design that can execute smart contracts based on data collected from the outside world.That means it Can Settle Derivatives And Oil Contracts.
Cross-border payments network Ripple (XRP) also announced in May that it has become part of the ISO 20022 Standards Body, becoming its first member focused on distributed ledger technology (DLT).
Sources:gesara.news, www.coindesk.com