Zimbabwe: New Banknotes Arrive Banks - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (J.T)
November 12, 2019
Zimbabwe’s much-anticipated newbanknotes eventually reached bankst oday Tuesday after a delay that saw manywaiting in long queues for cash.
Reserve Bank Governor, John Mangudyasaid Banks were collecting cash from the central bank and they only started issuingtoday.
In June, President Emmerson Mnangagwavowed to introduce the new currency before the end of the year in a moveintended to bring economic stability to the cash-strapped nation.
The country had been using acombination of the U.S. dollar and its quasi-currency, so-called bond notes,which Zimbabwe introduced during cash shortages a few years ago.
However, use of the greenback wasbanned earlier in 2019 and the new Zimbabwe dollar was introduced in electronicform. This had left many people struggling to purchase much-needed items ordraw their savings.
A teacher Emeka Gore, who had justaccessed her cash in Harare’s central business district said “they are givingus 300 dollars per week. The money does not last even a day.
Authorities said they were rationingcash withdrawals for fear that injecting huge amounts into the economy wouldfuel inflation