The central bank has introduced a new $200 000.00 bearer cheque. This is meant to help in business transactions where previously one required loads of bank notes which are not worth anything really. The new note is worth less than £1 on the black market and about US$13 on the official market.
With a very high rate of inflation of about 4500%, most Zimbabwean ‘millionares’ can barely afford to buy groceries to last them a week with their monthly salaries.
Even with the introduction of price controls things are not getting any better. There is nothing in the shops, there is no fuel and there are all signs of a difficult future ahead.
Only in Zimbabwe!!
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Wed, Aug 1, 2007
Township News