Cash-Strapped Zimbabwe to Print More Money
Zimbabwe is more than doubling its issuance of bond notes, a domestic quasi-currency, to U.S.$500 million, the Central Bank Governor John Mangudya has said, stoking fears of a slide towards the rampant money-printing and hyperinflation of a decade ago. The shortage of U.S. dollars last year forced the government to introduce the local bond notes, giving it the same value as the U.S. dollar.
New Zimbabwe, 3 August 2017
The country's central bank says it will print additional bond notes worth $300 million in an effort to ease biting cash shortages, stoking fears that the country could return to… Read more »
News24Wire, 3 August 2017
Zimbabwe's central bank chief says the country will print an extra 300 million dollars' worth of bond notes, despite an earlier promise not to exceed the 200 million figure. Read more »
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 ... 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 »