Zimbabwe central bank releases ANOTHER 300 million bond notes: report

Harare – As Zimbabwe’s cash crisis worsens, the central bank will in
the next two weeks release 300 million dollars’ worth of new bond notes.

The authorities are now threatening to arrest business
people who hoard bank notes for resale to desperate Zimbabweans who can’t get
them out of their bank accounts.

The state-run Sunday News quoted central bank chief John
Mangudya as saying these notes, like the first 200 million released in
November, are backed by a loan from the African Export-Import Bank.

Cash hoarders ‘will be arrested’

Meanwhile, police and anti-corruption officials have
threatened to arrest bank tellers, supermarket managers and mobile money agents
for “hoarding cash”, the paper said in a separate report.

“We know that this is a syndicate and we are going to round
them all up,” said Phyllis Chikundura, spokesperson for the Zimbabwe
Anti-Corruption Commission (ZACC).

“Our auditors and police are investigating and a lot of
ground has been covered. The long arm of the law will soon descend on the
criminals.”

Forex available on black market

Retailers say that they have to purchase scarce foreign
currency on the black market to pay suppliers outside Zimbabwe’s borders.

Many Zimbabweans fear a rerun of Zimbabwe’s last economic
crisis which peaked in 2008, when “bearer cheques” lost value rapidly and
hyperinflation chased goods from shop shelves.

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