Local media reported last monththat the Federal Reserve had formally agreed to supply US coins to Zimbabwe, where shopkeepers are suffering a shortage of change. The African economy switched to dollarisation in early 2009 in order to temper a severe bout of hyperinflation. However, the Fed has ...
Zimbabweans battle money shortages as collectors buy hundred billion dollar notes on eBayANGUS SHAW
ZIMBABWE'S central bank will issue a 100 trillion Zimbabwe dollar banknote, worth about US$33 on the black market, to try to ease desperate cash shortages. As well as the Z$100 trillion dollar note, the Reserve Bank of Zimbabwe plans to launch Z$10 trillion, Z$20 trillion and Z$50 t...
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“Inflation expectations are anticipated to be well anchored towards the observed trend of domestic United States dollar inflation. “If printing money was a solution, everyone was going to be rich and we are not going that route. I cannot do the job of permanent secre...
This also contributed to reduction in sales as the majority of the people in Zimbabwe were getting salaries in the weaker Zimbabwean dollar. Those who were importing using Messina runners indicated that they had borrowed some of the money which they used so sustain their business and they were ...
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Zimbabwe business owners have pleaded with Parliament to ask the government to stop arresting unauthorised moneychangers and to re-open the bank accounts of companies accused of only accepting foreign currency. This comes after Reserve Bank of Zimbabwe (RBZ)’s Financial Intelligence Unit (FIU) d...
“If you remember the speech by the Reserve Bank Governor, he said he would be happy if by the end of the year the use of the US dollar will have come down from levels where it is now to may be 70 percent or below, so we hope that target will be achieved. ...
“Local drama producers demand US$20 000 for 13-episode series and ZBC struggles to pay that money. What more when we talk of equipment. Where could she have gotten that money?” he asked. “I know she is human and may make mistakes but on these issues you raise which are almost 20...