IMF warns Zimbabwe against introduction by a gold CBDC golden – Bits Media

The International Monetary Fund called on Zimbabwe authorities to replace the introduction of a digital state member secured by gold by liberalization of currency legislation.

The IMF is counted, that solving macroeconomic problems, like the volatility of the local monetary unit, CBDC will not help. The IMF experts are sure: The most correct solution would be to remove restrictions on the exchange rate, on which banks are carried out, authorized dealers and enterprises.

“It is necessary to conduct a thorough assessment and make sure, that the benefits of this measure outweigh the costs and potential risks, Including the risks of financial stability, Legal and operating risks, Risks of management, as well as the cost of a missed currency reserve ", - explain representatives of the IMF.

The high volatility of the National currency of Zimbabwe, combined with a limited proposal of the American currency in the domestic market, has already led to a significant drop in the Zimbabvian dollar.

Reserve Bank Zimbabwe (Rbz) stated
On plans for launching gold CBDC as part of interventions to stabilize the national fiat currency. Using the country's gold reserves, believes manager RBZ Rjon Mangudia (Rjon mangudiya), will serve the stabilization of the amount of Zimbabwe and the fight against inflation in the price of the dollar, and also reduce the demand for US dollars.

In February, After an official visit to Salvador, The IMF commission did
statement, that the local government should revise plans for the penetration of bitcoins into the country's economy, since BTC increase state risks.