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Africa Subsaharan |
Zimbabwe rolls out 'surrogate' dollars amid unease |
2016-11-28 |
The crisis-hit southern African country has used multiple foreign currencies, including the greenback since 2009 after a rate of inflation that peaked at 500 billion percent rendered the Zimbabwe dollar unusable. The introduction of $2 and $5 bond notes into circulation follows the issuing of bond coins over a year ago to ease shortages of change in smaller denominations. The country has experienced a severe shortage of US dollar banknotes in recent months which forced President Robert Mugabe's government to print what locals have dubbed "surrogate money". "Citizens are generally opposed to the introduction of bond notes because they are still smarting from the death of the Zimbabwe dollar, which was abandoned in 2009 due to hyperinflation," said an editorial in the weekly independent newspaper The Standard. "The government has been arrogant, dismissing those opposed to the surrogate money as unpatriotic. "As we have warned the government before, a currency can only be sustained through confidence it inspires on the market." |
Posted by:Besoeker |
#5 The British have an expression, As bent as a nine bob note Which we recycle to, As bent as a zimbob note |
Posted by: phil_b 2016-11-28 18:52 |
#4 "....follows the issuing of bond coins" Wonder what the heck they're made of? Can't be metal as those would be worth more than face value just in 'scrap value'. |
Posted by: Mullah Richard 2016-11-28 16:51 |
#3 As long as they don't call it 'Microsoft Bob'... |
Posted by: Raj 2016-11-28 16:41 |
#2 "Bob Notes" |
Posted by: Frank G 2016-11-28 08:43 |
#1 The Balancing Rocks have been used as a metaphorical theme to explain the importance of development coupled with preserving the fragile environment of Zimbabwe as similar to that of the Balancing Rocks found in Epworth, Matopos and in other areas. Oh the irony. |
Posted by: Besoeker 2016-11-28 07:37 |