IMF says gold coins a missed chance to build Zimbabwe reserves

From miningweekly.com

The gold coins that have been in circulation in Zimbabwe for almost three months are a missed chance to build the nation’s gold reserves, according to the International Monetary Fund. “The sale of gold coins has contributed to withdrawing Zimbabwe dollar liquidity from the market, though it represents an opportunity cost in terms of foregone reserves for the Reserve Bank of Zimbabwe,” an IMF spokesperson said Thursday in an emailed response to Bloomberg questions. John Mangudya, the central bank governor, didn’t immediately respond to calls to his mobile phone seeking comment. The central bank plans to sell ... (full story)