Zimbabwe central banker stockpiles gold to bolster ZiG currency
The ZiG - short for Zimbabwe gold — is the nation’s sixth attempt at having a functioning local currency in the last 15 years.
The Kimberley Process (KP) rough diamond certification scheme failed to reach a consensus to suspend Zimbabwe at last week’s Plenary meeting in Namibia, in spite of evidence of serious non-compliance with the KP’s requirements and widespread government-sponsored human rights abuses, according to civil society groups. “Governments’ failure to suspend Zimbabwe points to fundamental weaknesses in the scheme’s procedures and to a serious lack of political will to take decisive action when countries are not implementing minimum standards,” said Annie Dunnebacke from Global Witness, an organisation investigating and campaigning to prevent natural resourced-related conflict and corruption. (more…)
