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Walkingstick » September 15th, 2016
SEPTEMBER 15, 2016
Harare - (dpa) - Zimbabwe plans to issue securities denominated in the currency to the dollar to alleviate the shortage of coins in the country, and encourage exports during the next month.
Said John Manjudia Governor of the Reserve Bank (central) Zimbabwe on Thursday: "We expect to draw expected value of stock raised about $ 75 million, and be put on the market by the end of December / December 2016".
Zimbabwe had resorted to the US dollar as the currency trading in the country, an alternative local currency, which has become almost worthless in 2009 after the arrival of inflation to unprecedented levels as a result of the economic crisis, which lasted about 10 years.
Targets Manjudia allay fears that the introduction of new banknotes prelude to the return of the old currency trading, saying, "According to the macroeconomic fundamentals .. It is not right to do so" in reference to the likelihood of re-old currency.
Zimbabwe is currently suffering from a severe cash crunch as returned by economic analysts of the increasing dependence on imports after the collapse of many local industries.
At the same time, the country has witnessed months of protests against the deterioration of the economy and human rights abuses under President Robert Mugabe's 92 / year /
rule, which has ruled the country since 1980.