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 M¢37  Funded By Mahalo ? |  September 18, 2009 12:50 AM

Is Zimbabwe Gold Trade helping correct government spending?

Food is scarce, land is not available, people are searching for Gold to provide means to eat. However, government spending has dried up. Will Zimbabwe emerge has a health nation? Has Zimbabwe cleaned up its corruption and remove warlords from power?
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Best Answer  Chosen by Asker

 
September 18, 2009 02:40 PM
If they have to trade gold for food.. they have to obtain exchange control approval for gold trading..

"THE Reserve Bank of Zimbabwe has drawn up formalities that should be followed by individual gold producers when exporting the precious metal.

In a statement, RBZ senior division chief: exchange control, Mr Morris Mpofu said there is need for an individual gold exporter to be licensed by the Ministry of Mines for him to be able to export the commodity.Gold producers would have to register as an exporter with the Exchange Control, the central bank and through their authorised dealers."

http://allafrica.com/stories/200902250024.html

Source(s):
http://allafrica.com/stories/200902250024.html

Asker's Rating:
• Why is the Zimbabwe government failing? The government can not provide for the needs of its people. People provide for themselves.


Helpful Answer?  (0)   (0)    Tip hubber2009 for this answer
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September 18, 2009 03:43 PM
What lessons can be derived from Zimbabwe?

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