{"id":80372,"date":"2023-07-12T08:16:59","date_gmt":"2023-07-12T06:16:59","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/govt-urged-to-consider-paying-civil-servants-in-gold-coins"},"modified":"2023-07-12T11:48:16","modified_gmt":"2023-07-12T09:48:16","slug":"govt-urged-to-consider-paying-civil-servants-in-gold-coins","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/govt-urged-to-consider-paying-civil-servants-in-gold-coins","title":{"rendered":"Govt Urged To Consider Paying Civil Servants In Gold Coins"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>An economist at Lupane State University (LSU) has urged the Government to explore the feasibility of paying a portion of civil servants\u2019 salaries in gold-backed digital tokens and gold coins.<\/p>\n

Speaking to the Chronicle, LSU business clinic development manager and economist George Nhepera said paying civil servants in gold coins and gold-backed digital currency reduces the dominance of the black market as the instruments are an alternative store of value other than the US dollar. Said Nhepera:<\/p>\n

To this end, they should be promoted in terms of their use for both people-to-people (P2P) transactions, people-to-business (P2B), and business-to-business (B2B).<\/p>\n

Once this has been achieved with full market confidence, surely our Government can take a giant step to include a portion, say 50 percent of the civil servant salaries and benefits, be paid in these innovative instruments.<\/p>\n

This strategy will help to curtail the black-market dominance in our market which is not helpful for the economic growth and poverty alleviation of our country let alone the achievement of our Vision 2030.<\/p>\n

The future therefore belongs to innovators hence our monetary authorities are walking the talk in that space and they should be commended for supporting the Government in that respect.<\/p>\n

However, economic analyst Morris Mpala argued that paying civil servants in the gold-backed currency will reduce the demand for the Zimbabwe dollar. He said:<\/p>\n

This again defeats the purpose of encouraging the use of local currency by the populace. Noble as it might be in terms of liquidity management it shouldn\u2019t be encouraged.<\/p>\n

Let\u2019s pay civil servants the right remuneration and let them have a choice in how they save their money and we concentrate on making the fundamentals right for everyone.<\/p>\n

On Tuesday, 11 July, the Government announced it has increased civil servants\u2019 forex and local currency salary components with immediate effect.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. An economist at Lupane State University (LSU) has urged the Government to explore the feasibility of paying a portion of civil servants\u2019 salaries in gold-backed digital tokens and gold coins. Speaking to the Chronicle, LSU business clinic development manager and economist George Nhepera said paying civil servants in gold coins and gold-backed […]<\/p>\n","protected":false},"author":84,"featured_media":80371,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,12],"tags":[1493,2189,258,1508,14788,10405,19],"class_list":{"0":"post-80372","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-policy","9":"tag-africa-press","10":"tag-africa-press-zimbabwe-2","11":"tag-civil-servants","12":"tag-civil-servants-salaries","13":"tag-digital-gold-tokens","14":"tag-gold-coins","15":"tag-zimbabwe"},"yoast_head":"\nGovt Urged To Consider Paying Civil Servants In Gold Coins - zimbabwe<\/title>\n<meta name=\"description\" content=\"An economist at Lupane State University (LSU) has urged the Government to explore the feasibility of paying a portion of ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/govt-urged-to-consider-paying-civil-servants-in-gold-coins\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt Urged To Consider Paying Civil Servants In Gold Coins\" \/>\n<meta property=\"og:description\" content=\"An economist at Lupane State University (LSU) has urged the Government to explore the feasibility of paying a portion of ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/govt-urged-to-consider-paying-civil-servants-in-gold-coins\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-12T06:16:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-12T09:48:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2023\/07\/sm_1689138961.139926.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"895\" \/>\n\t<meta property=\"og:image:height\" content=\"441\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/govt-urged-to-consider-paying-civil-servants-in-gold-coins\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/govt-urged-to-consider-paying-civil-servants-in-gold-coins\",\"name\":\"Govt Urged To Consider Paying Civil Servants In Gold Coins - 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