Recent Comments

Hugo on Eurosport beams Nations Cup matches: Really hoping Nigeria do well in this tournament b ...
Delivery Hero on England, France paired in Euro 2012: Can't wait for Euro 2012! ...
Wes on 2011/12 English Premiership Preview: Thanks Sybil, I think Man City cannot easily be di ...
Wes on 2011/12 English Premiership Preview: Thanks Bambo for the comment. I think its going to ...
Phil on 2011/12 English Premiership Preview: Good post, this looks like a very unpredictable se ...

Unending new notes

Once again the Reserve Bank of Zimbabwe (RBZ) is going to release some new notes in its unending cycle of introducing new notes followed by cutting zeros.

This time the RBZ is introducing $10-million, $50-million and $100-million notes after the price of goods has gone so high the previous notes had become useless.

I agree with the Zimbabwe Congress of Trade Union (ZCTU) that there should be no limit in what people can withdraw from their bank accounts.

If the RBZ would like to put limits then these must be on the ATM withdrawals but people who go into the banking hall must be allowed to get as much money as they want as long as they have it in their account.

Its up to the RBZ to make sure that there are enough notes in circulation because people cannot spend days queing to withdraw their money and by the time they get it it will be worthless.

In such an environment of high inflation I think people should be able to get their money when they need it because it becomes valueless so quickly.

Now the new limits are quoted as per week and that is very interesting. Maybe Gideon Gono the RBZ governor is trying to make sure that people only go to the bank once a week and get money they can use for the next three days or so and then struggle for another week to start and I think that is unacceptable.

Meanwhile, its sad to see that deteriorating situation has now lead to the spread of disease in the form of cholera and anthrax and I think the number of people who have died is probably six to ten times more than the number quoted in the official figures.

Its hard to see what can be done and quickly when the current defacto government of Robert Mugabe doesn't seem to care about the people at all.

Post a comment:


(required, but not published)


Notify me of follow-up comments via e-mail