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Zero slashing season again
Early this week the Reserve Bank of Zimbabwe(RBZ) slashed zeros again and this time slashing 12 Zeros to make 1 trillion dollars worth just 1 dollar.
The last time the zeros were slashed was at the the end of July last year when ten zeros and that was followed the introduction of coins.
This time people are also using foreign currency alongside the Zimbabwean dollar and therefore this may not be big news anymore but for those who earn their salaries in the local currency.
As noted before on this blog, its time the actual problems causing such high inflation are resolved and I hope the new unity government will get to work and at least try to stabilise the situation and get people to using the local currency again.
Related documents
January 09 Monetary policy statement
I am not as optimistic on the unity govt . I think recovery is still some 5 years away .
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Yes I agree recovery will take some time but its good that at least there will be some people in govt. who will actually care about Zimbabwe and the people.
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