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*RBZ To Create More RTGS Money To Fund Gold Miners* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?gx Reserve Bank of Zimbabwe (RBZ) governor John Mangudya has revealed that the central bank intends to introduce electronic money worth $200 million into the real time gross settlement (RTGS) system. According to Mangudya, the money will be used to support gold miners who in turn earn foreign currency through exporting gold. Critics have in the past accused the government of printing money using the RTGS system. Said Mangudya, > So far, it’s $150 million which means upon them completing that fund, we will add another $50 million to make it $200 million. Yes, upon them exhausting the fund, then we will do that (increase the fund). We are quite happy about that position. It has also increased production of gold in this country. So basically, what we are doing is that we are leveraging on the RTGS funds to produce an exportable item called gold. > Therefore, that’s a very good way of managing the foreign currency. What we need in Zimbabwe is foreign currency. So if we can use the RTGS balances to produce an exportable, then we are doing very well. More: RTGS ---------- Pindula is best experienced with the Android App. *Download APK here:* https://zero.pindula.co.zw/media/apps/apks/pindula23.apk _On Econet, Pindula does NOT use your data_ ---------- itel A50 now available on Pindula at $84 64GB storage, 2GB RAM. _ideal for light usage_ _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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