When Will The Zimbabwean Govt Admit The Bond Notes Have Flopped?
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 introduce the local bond notes giving it the same value as the U.S. dollar. The surrogate currency, however, has not been able to address the country's cash crisis.
South African rand.
'If You See a U.S.$100 Note, It's Been Sneaked In'
News24Wire, 27 March 2017
Cash-strapped Zimbabwe is trying to stop banks importing high-denomination US dollar bills - and that means you shouldn't see $100 notes in banks or supermarkets, state media is… Read more »
Foreign Airlines Hit Hard By Currency Crisis
Financial Gazette, 16 March 2017
INTERNATIONAL airlines have been caught up in Zimbabwe's foreign payments gridlock and are failing to repatriate close to US$30 million locked in domestic banks, the Financial… Read more »
Central Bank Should Act
Financial Gazette, 23 March 2017
LAST week, we reported that international airlines flying into the country had nearly U.S.$30 million from air ticket sales locked in the country because banks could not raise… Read more »
Retailers Charging Extra For Payments Made in Bond Notes, Mugabe Not Happy
News24Wire, 24 March 2017
Cash, card or BOND? Read more »
As President Robert Mugabe's government is threatening to prosecute businesses rejecting payments in bond notes, reports have emerged that the immigration department is doing the ... Read more »
As most companies in Zimbabwe depend on foreign currency to purchase raw materials from outside the country, the disappearance of American dollars from the market could bring their ... Read more »
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