Gono has printed enormous quantities of money against the advice of economists, but with full support from Robert Mugabe. The move means that 1 trillion in Zimbabwe dollars now will be equivalent to one Zimbabwe dollar. "Accordingly, therefore, this monetary policy statement unveils yet another necessary program of revaluing our local currency," said Gono of the new re-denomination, "through the removal of 12 zeros with immediate effect." Despite these efforts, inflation in Zimbabwe remains the world's highest at 231 million per cent. On one occasion, he personally visited shop owners in Harare to demand they lower prices. Gono has sent in the police to arrest businessmen for failing to reduce their prices. "Our national currency is a fundamental economic pillar of our sovereignty." "Even in the face of current economic and political challenges confronting the economy, the Zimbabwe Dollar ought to and must remain the nation's currency," said Gideon Gono, governor of the Reserve Bank of Zimbabwe, "so as to safeguard our national identity. But it's become apparent that the forced price cuts cause bare shelves in shops. The Reserve Bank of Zimbabwe acted in late January as the government instituted price cuts to try and arrest inflation by diktat. LAST WEEK, writes John Lee of, Zimbabwe slashed 12 zeros from its currency's denominations as hyperinflation continued to erode value. How deliberate inflation took hold in Zimbabwe, destroying its economy.
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