Zimbabwe: New Banknotes Arrive Banks
Zimbabwe: New Banknotes Arrive Banks

Zimbabwe’s much-anticipated new banknotes eventually reached bankst oday Tuesday after a delay that saw many waiting in long queues for cash.

Reserve Bank Governor, John Mangudya said Banks were collecting cash from the central bank and they only started issuing today.

In June, President Emmerson Mnangagwa vowed to introduce the new currency before the end of the year in a move intended to bring economic stability to the cash-strapped nation.

The country had been using a combination 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 was banned earlier in 2019 and the new Zimbabwe dollar was introduced in electronic form. This had left many people struggling to purchase much-needed items or draw their savings.

A teacher Emeka Gore, who had just accessed her cash in Harare’s central business district said “they are giving us 300 dollars per week. The money does not last even a day.

Authorities said they were rationing cash withdrawals for fear that injecting huge amounts into the economy would fuel inflation