Zimbabwe to issue new currency to counter cash shortage
The country abandoned the Zimbabwe dollar in 2009, after a bout of hyperinflation, in favour of a basket of currencies
20 August 2019 - 13:50
Zimbabwe will issue new notes and coins soon to replace the country’s quasi-currency that was introduced three years ago in a failed attempt to counter a crippling shortage of cash, and that’s pushed inflation to the highest rate since 2008.
The return to a fully fledged local currency exchangeable outside the country’s borders will be backed by an undisclosed amount of foreign-exchange reserves, gold and loans, finance minister Mthuli Ncube said in an interview on August 15 in the capital, Harare...
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