In a startling disclosure, Zanu PF spokesperson Christopher Mutsvangwa has asserted that Zimbabwe’s gold reserves were clandestinely relocated from the Reserve Bank of Zimbabwe (RBZ) during the era of the late President Robert Mugabe.
click here to watch Chris Mutsvangwa video IMG_8141
The purported scheme, according to Mutsvangwa, involved collusion with a retired governor, widely speculated to be Gideon Gono.
During a press briefing, Mutsvangwa elaborated on how the nation’s shortage of U.S. dollars was compounded by international sanctions. In a bid to alleviate this financial crisis, the then RBZ governor allegedly sought assistance from contacts in the Arab world, offering Zimbabwe’s gold reserves in exchange for U.S. currency.
“We had our gold reserves, then the Americans imposed sanctions, then we were short of US dollars. As we were short of US dollars, our Reserve Bank governor then, I won’t mention names, these days I am not mentioning names. Our Reserve Bank governor engaged outsiders in the Arab world…they said ‘we can give you US dollars but on condition that you support it with your gold,’” Mutsvangwa disclosed.
An agreement was proposed wherein U.S. dollars would be traded for Zimbabwe’s gold reserves. However, while the gold was reportedly transferred as per the agreement, the anticipated U.S. dollars never materialized.
“The story gets murky after that….The gold reserves are gone, the US dollars don’t come,” Mutsvangwa lamented.
This incident raises concerns about the integrity of the country’s financial custodianship and comes in the wake of President Mnangagwa’s recent inspection of the Reserve Bank of Zimbabwe’s gold reserves. Mnangagwa, commenting on the reserves, stated, “Zimbabwe has solid gold in the vaults. In the past, we sold all our gold, and we can’t keep money, but now we have solid gold in the vaults. So year by year we should have about 1.2 tons of gold in our vaults as well as outside.”
The disclosure by Mutsvangwa sheds light on a complex chapter in Zimbabwe’s economic history, underscoring the need for transparency and accountability in financial dealings