Zimbabwe’s gold trade holds firm despite Middle East tensions
Bloomberg Zimbabwe’s gold trade continues to flow steadily through the Middle East despite conflict in the region, the country’s deputy finance minister said. “We have not received any red flags or concerns from Fidelity Printers and Refineries, which is the sole agent that sells our gold,” Deputy Finance Minister Kudakwashe Mnangagwa told lawmakers when asked […] The post Zimbabwe’s gold trade holds firm despite Middle East tensions appeared first on NewZimbabwe.com.
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Bloomberg
Zimbabwe’s gold trade continues to flow steadily through the Middle East despite conflict in the region, the country’s deputy finance minister said.
“We have not received any red flags or concerns from Fidelity Printers and Refineries, which is the sole agent that sells our gold,” Deputy Finance Minister Kudakwashe Mnangagwa told lawmakers when asked if there were any disruptions.
“It is an issue that all agencies are consistently keeping an eye on,” he added. “We still see a smooth flow.”
Last month, the Zimbabwe National Chamber of Commerce warned that the country’s gold exports could be at risk amid escalating tensions in the Middle East.
The United Arab Emirates is a major destination for Zimbabwe’s gold shipments, which accounted for 45% of total export earnings in February, according to a government agency.
Dubai was the country’s largest export destination, generating $468.4 million, according to official data from the Zimbabwe National Statistics Agency. Most of these shipments consisted of gold.
The post Zimbabwe’s gold trade holds firm despite Middle East tensions appeared first on NewZimbabwe.com.
