Samson » October 23rd, 2016
October 21, 2016
Mr. Gerry Rice, Director of Communications at the International Monetary Fund (IMF) made the following statement on Zimbabwe:
“On October 20, 2016, Zimbabwe settled its overdue financial obligations to the Poverty Reduction and Growth Trust (PRGT) of the IMF. Zimbabwe had been in continuous arrears since 2001.
To settle these obligations, which amounted to SDR 78.3 million (about US$107.9 million), Zimbabwe transferred part of its SDR holdings kept at the IMF to the PRGT account. Zimbabwe is now current on all its financial obligations to the IMF.”
Ricklibby » October 23rd, 2016
Jay » October 23rd, 2016
And no. I did NOT click the link and read it. So i do not know if it states what currency they used.
Very interesting none the less. But imo the zim is still 1 to 2 years away if at all from being an exchangeable currency.
The smart thing is for ALL the currencies to go at the same time to eliminate double dipping.
BUUUUUT....ALL THE PTB HAVE TO DO IS MAKE US SIGN A DOCUMENT AT OUR EXCHANGES THAT WE AGREE NOT TO PURCHASE CURRENCIES WITH OUR EXCHANGED MONIES. PUNISHABLE BY THE LAWS THAT COVER SUCH AN ACTION.
THUS MAKING THE ZIM NOT EXCHANGEABLE FOR 1 OR 2 YEARS AS I STATED ABOVE. BECAUSE THEY ARE JUST NO WHERE NEAR READY IMO...