Heralded by Zimbabwe’s central bank and its President Emmerson Mnangagwa as the answer to an acute cash shortage that has hamstrung the country’s economy, new low-denomination banknotes were due to enter circulation on Monday. But by noon they had seemingly failed to arrive. The government unexpectedly re-introduced the Zimbabwe dollar in June to end a decade of dollarisation. It hopes the new notes, at lower denominations than those currently in circulation, will help end the cash shortage, bring down inflation and speed up the restoration of the long neglected domestic currency.
SOURCE: REUTERS AFRICA