Zimbabwe will cap government spending on its gold-buying incentive scheme at $300 million for 2026 and revisit the program during next year’s budget process. Finance Minister Mthuli Ncube and Central Bank Governor John Mushayavanhu said the cap is meant to limit fiscal exposure to gold-price swings. The scheme underpins the credibility of Zimbabwe’s gold-backed currency, the ZiG, introduced in 2024. The country secured a 10-month IMF staff-monitored program in February, a step toward resolving billions in debt arrears after being shut out of international capital markets since a 1999 default. Zimbabwe’s gold output rose to 21.4 metric tons in the first half of 2026, with export earnings jumping 69% to $3.1 billion.