Could Zimbabwe Have an Official Currency By Year-End?
Government advisor Ashok Chakravarti has urged for the replacement of the U.S. dollar with the South African rand as the country's main currency. The shortage of U.S. dollars forced the government to introduce the local bond notes giving it the same value as the U.S. dollar. Despite the surrogate currency's inability to address the country's cash crisis, it could be a fully fledged currency by December.
New Zimbabwe, 25 July 2017
Government advisor and University of Zimbabwe lecturer, Ashok Chakravarti, says the liquidity crunch will continue as long as the US dollar remains in circulation. Read more »
Zimbabwe: 'Let Market Determine Bond Note Value'
The Herald, 27 July 2017
Zimbabwean monetary authorities should let the market determine the true value of the bond note currency to curb its externalisation and in turn reduce cash shortages, a leading… Read more »
Zimbabwe: Bond Notes Fuel Inflation - IMF
Financial Gazette, 13 July 2017
Government's introduction of bond notes last year to address a relentless cash crisis fuelled a currency black market, which had been subdued due to a multiple currency regime, the… Read more »
Zimbabwe: Bond Notes Weaken Against U.S. Dollar
Zimbabwe Independent, 12 May 2017
ZIMBABWE'S bond notes continued losing value to the United States unit with forex dealers in the black market discounting the local currency by as much as 15-20% this week for… Read more »
Finance Minister Patrick Chinamasa has reportedly refused to add more bond notes into the country's struggling market, insisting that an increase in exports is the only solution. ... Read more »
The central bank has urged for the replacement of the U.S. dollar with the South African rand as the country's main currency. The shortage of U.S. dollars forced the government to ... Read more »