The government wants to classify foreign currency transactions in the parallel market as money laundering, which is considered one of the most serious financial crimes in the world, the Zimbabwe Independent newspaper revealed.
The move is part of efforts to protect the newly introduced gold-backed currency, known as Zimbabwe Gold (ZIG).
“We should call it what it is, His Excellency (Mthuli Ncube). It is illegal, this is money laundering. This is money laundering,” Permanent Secretary of the Ministry of Finance, Economic Development and Investment Promotion, George Guvamatanga, said during a press conference at the recently concluded IMF-World Bank Spring Forum. “We will deal with these activities, which you call money transfer, accordingly,” the meetings held in Washington, D.C., USA.
“Anyone who trades in the alternative market is laundering money, which is a serious global crime.
“There will be serious consequences for anyone who manipulates the currency. If you want to pay anything in US dollars, whether it’s school or medical fees, you have to go to your bank with the bill and they will pay.
