Does the Zimbabwe central bank know any other way of controlling the cash shortage other than printing more valueless higher denomination bank notes? In a desperate effort to control the recurrent cash shortages plaguing the inflation ravaged economy, the Zimbabwe central bank has introduced a new $100 billion bank note.
The reserve bank governor’s first initiative was to remove the zeros from the currency, when that did not work he resorted to printing more useless bank notes.
How on earth can they manage the monetary situation in the country by printing more of these worthless notes. Every month the central bank is introducing higher denomination notes.
Gideon Gono, governor of the Reserve Bank of Zimbabwe, said the new notes are for “the convenience of the banking public and corporate sector” in light of price hikes.
“The RBZ has noted with concern the unjustifiable and incessant general increases in prices of goods and services. It is therefore appealing to the business community to follow ethical business practices as well as take an interest in the plight of the general public,” Gono said in a statement dated Friday.
The new note officially comes into circulation on Monday.
Is it time for the central bank governor to admit he has failed? His track record shows how bad the current government has managed the economy and they should just leave for the sake of the lives of innocent Zimbabweans.
The highest denomination bank note in the country can not even buy you a loaf of bread? Gives us a break Mr Gono…..is it real money?
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Wow! For the price of a dollar (US) I can become a multi-billionaire, worth one hundred billion. Way to go Bobby Mugabe! You’re just a one man wrecking crew, aren’t you?
@ D Casey……I doubt very much Mugabe will take responsibilty of the mess in Zimbabwe. He blames everyone else but himself.