Zimbabwe’s ZiG Soars to Record High with Gold and Forex Reserves
In June, Zimbabwe reached a significant milestone: its gold and foreign-currency reserves backing the newly minted bullion-backed currency, the ZiG (Zimbabwe Gold), hit a record high. As reported by the central bank, this development not only signifies a turn in economic fortunes for the nation but also hints at the resilience of a country striving to lift itself from the depths of financial despair.
The reserves surged impressively to $731 million—up from $639 million in May and almost tripling from the $276 million…