Coins, coins everywhere, but . . .
HARARE, 8 August 2008: It is now more than a week since Reserve Bank Governor of Zimbabwe, Dr Gideon Gono, presented his 2008 Mid-Term Monetary Policy Statement, which saw the introduction of a new family of banknotes in 1 Zimbabwe dollar, 5, 10, 20, 100 and 500 denominations, writes “The Herald”, Harare, on Friday.
The newly-introduced Zimbabwe dollar which came into circulation on August 1 is now less than 10 zeros.
The RBZ also announced the reintroduction of old coins (10 cents, 20 cents, 50 cents, 1 Zim – dollar, 2 and 5) at their face value, and the introduction of new coins worth 10 Zimbabwe dollar and 25.
When the reforms where announced, the monetary system was already seriously challenged with cash shortages and incessant price hikes.
The reintroduction of old coins into the monetary system continues to be a source of both excitement and frustration, considering that coins were last used in 2003.
Du kan læse mere om Zimbabwes økonomiske situation her: http://www.herald.co.zw/inside.aspx?sectid=209&cat=8
