Maravi

(TALKZIMBABWE)Zim dollar back by year end: President Mugabe

Zim dollar back by year end: President Mugabe
Ralph Mutema
Fri, 06 Nov 2009 03:02:00 +0000

THE Zimbabwe dollar, abandoned in March this year, will be back in circulation by year-end, President Robert Mugabe has said. Harare abandoned its dollar six months ago inorder to curb hyperinflation.

President Mugabe said multiple foreign currencies that replaced the local dollar were unavailable to Zimbabweans, thereby spiking deep poverty.

"The use of multiple currencies is not helping our people much as the money is difficult to secure," the president said while addressing villagers in Zhombe, in the Midlands province.

He added: "We will be reintroducing our own currency by end of the year. People are failing to board buses.

"This needs to be redressed. I do not hope to face similar problems next year. We would have failed as leaders if that is allowed to happen."

Finance minister Tendai Biti, from the Movement for Democratic Change (MDC-T), has threatened to quit if forced to bring back the local dollar.

Labels: MUGABE, ZIMBABWE DOLLAR

posted by MrK @ 7:01 AM