The President was given an update of the reserves in the
vaults, with Reserve Bank of Zimbabwe Governor, Dr John Mushayavanhu disclosing
that the country has 1,5 tonnes worth of gold reserves, 1,1 tonnes which are in
solid gold form, while the remainder is in other mineral forms.
“The gold in the vaults 1,1 tonnes, 1,5 tonnes converted we
have other gold offshore. So, in total in the form of gold reform, cash balance
is US$100 million in cash," he said.
Under the President Mnangagwa led government the country
now stores 10% of its minerals in gold form.
After he inspected the gold reserves, the President spoke
to members of the media.
“With RBZ we just normally walk in, but this time I decided
I want to physically see the assets, because in the past we did not have any
reserves of commodities, we sold all. I then gave instructions to the new
governors that 10 percent of our minerals be kept in solid commodity, that is
10 percent of platinum or whatever mineral we are covering that to gold. We
have been doing that for 18 months, I felt I must inspect physically, and I’m
satisfied that the outgoing governor reserved my instructions because for the
first time we have solid gold. A few months ago, I went outside, and I
inspected the country’s gold reserves there, I won’t say where,’ said the
President.
In addition to the gold reserves and the US$100 million,
the Permanent Secretary in the Ministry of Finance and Economic Development, Mr
George Guvamatanga disclosed that banks are holding US$300 million as the
country’s reserves.
“As the Government of Zimbabwe, in various banks of
Zimbabwe we have US$300 million US over and above the other reserves which can
be verified, so if we add everything, we have more than enough,” he said. zbc
🔴'I can confirm that we have 1.1 tonnes of gold and other precious minerals in the form of diamonds which if converted to gold will be equal to 0.4 tonnes of gold making a total of 1.5 tonnes of what we are holding' - RBZ Governor John Mushayavanhu
— NewsDay Zimbabwe (@NewsDayZimbabwe) April 4, 2024
📹: @stozvirevaa pic.twitter.com/8m6JpeQ2Yw
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