Zimbabwe says its only reserves are $500,000 in gold coins


HARARE (Reuters) - Zimbabwe is holding gold coins valued at $501,390 (299,802.68 pounds) as its only reserves, enough to buy only 1,400 tonnes of maize, the finance minister said on Wednesday, highlighting the parlous state of the country's finances.

The economy of the southern African country, which has slowed to 4-6 percent growth after four years of near-double digit growth, is the biggest challenge to veteran President Robert Mugabe, who was re-elected last July in elections disputed by the opposition.

The Star Festive Promo: Get 35% OFF Digital Access

Monthly Plan

RM 13.90/month

Best Value

Annual Plan

RM 12.33/month

RM 8.02/month

Billed as RM 96.20 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In World

Ten dead after a shooting in Canadian province of British Columbia, police say
Pemex pipeline explosion in Mexico kills three and injures six, governor says
Exclusive-Trump's spy chief Gabbard winds down intelligence task force
Governor Walz says Trump immigration crackdown in Minnesota may end within days
Ukraine's Zelenskiy: changes under way in air defence, other areas
Day 4 Roundup: Norway wins 3 golds, Italy triumphs in short track mixed relay at Milan-Cortina
Medal table at Milan-Cortina Winter Olympics on February 10
U.S. stocks close mixed after flat retail sales data
US to send 200 troops to Nigeria to train African nation's military
Wang Peixuan sets China's best Olympic result in women's singles luge

Others Also Read