Zimbabwe to Issue Cash Notes Soon, Finance Minister Says
- Treasury to compile data on country’s foreign reserves first
- Notes and coins to replace ill-fated bond notes issued in 2016
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Zimbabwe will issue new notes and coins soon to replace the country’s quasi currency that was introduced three years ago in a failed attempt to counter a crippling shortage of cash and that’s pushed inflation to the highest rate since 2008.
The return to a fully fledged local currency exchangeable outside the country’s borders will be backed by an undisclosed amount of foreign-exchange reserves, gold and loans, Finance Minister Mthuli Ncube said in an interview on Aug. 15 in the capital, Harare.