HARARE - Zimbabwe is introducing higher denominations of bank notes in a bid to tackle cash shortages fed by run-away inflation. With effect from today, 250,000, 500,000 and 750,000 Zim Dollar notes will come into circulation.
The Z$200,000 notes (worth about eight US dollars), introduced only last July, will cease to be legal tender from the end of the year.
Reserve Bank governor Gideon Gono said in a live broadcast on state-run radio and television stations he hoped the new notes will mean “cash shortages will be a thing of the past”.
He apologised to Zimbabweans for their suffering and blamed the crisis on senior officials.
For the rest of this Sowetan Online article, go here.
NVDL: I thought it was game over in Zimbabwe ages ago, but it seems a country can continue to exist even if its arms, legs, weenie, and torso are chopped into chunks. If Mugabe is the brains, I wonder if the eyes and ears will be able to do anything once that part is down or deceased. The other thing is...is Zimbabwe a cautionary tale for South Africa, a glimpse at our future, or can we be pardonned for not making the comparison? Can a Zuma (or anyone else) conceivably do the same as Zuma has done to Zim? My guess is we ignore this possibility, as Africans, at our peril.
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