Will New Notes and Coins Address Zimbabwe's Cash Shortages?
In it's latest step towards restoring the domestic currency, the Reserve Bank of Zimbabwe has announced that new $2 Zimbabwe dollar coins will go into circulation on November 11 and will be used alongside the existing bond notes and coins. The new money, comprising $5 notes and $2 coins, will be introduced gradually to ease cash shortages while ensuring that it does not drive up inflation, central bank governor John Mangudya has said. Some economic analysts, however, say the measure will do nothing to address the country's underlying economic problems.
Reserve Bank of Zimbabwe.
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Zimbabwe:
Central Bank Removes 'Bond Note' Inscription On New Currency
New Zimbabwe, 5 November 2019
The Reserve Bank of Zimbabwe (RBZ) has released the main features of the country's new currency effectively re-designated in June but having had its place held by the surrogate… Read more »
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Zimbabwe:
It's Not a New Currency, Says Finance Minister Ncube
New Zimbabwe, 30 October 2019
Finance Minister Mthuli Ncube Tuesday said the country was not introducing a new autonomous currency as widely reported within local media but was only introducing a new family of… Read more »
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Zimbabwe:
Central Bank to Inject $1 Billion New Coins, Notes
The Herald, 1 November 2019
Cash in circulation will slightly more than double over the next six months, as the Reserve Bank of Zimbabwe (RBZ) injects an extra $1 billion to satisfy legitimate demand for… Read more »
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Zimbabwe:
Chief Chipuriro Blames Biting Economy for Moral Decay
263Chat, 5 November 2019
Chief Chipuriro of Guruve has blamed social and moral decadence which has become a thing of the days in his area on the worsening economic situation which he said is forcing people… Read more »
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Zimbabwe:
Pros, Cons of New Cash Injection Into the Economy
The Herald, 6 November 2019
In its inaugural Press statement, the Monetary Policy Committee noted that the level of physical cash in the economy is inadequate to meet transactional demand. Read more »
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Zimbabwe:
Currency Yes, but Tackle Fundamentals
Zimbabwe Independent, 1 November 2019
Our deteriorating economy has become a news item worldwide. Fuel price increases have become a weekly ritual. The most topical is the huge hike in electricity tariffs, buffeting… Read more »
InFocus
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