A follow up to my previous posts.
Zimbabwe bank to issue $10m bill
By Peter Biles
BBC Southern Africa correspondent
Zimbabwe's central bank is to introduce new higher-denomination banknotes in an effort to ease the critical shortage of cash in the country.
Zimbabwe has been in economic decline for the past eight years, with annual inflation widely thought to be in excess of 50,000%.
The highest value note that will go into circulation on Friday is worth 10m Zimbabwean dollars.
But that is worth less than US$3.90 (£2; 2.60 euros) on the black market.
...
The government's only response is to print more money - and that is seen as the main reason for the hyperinflation.
There have been no official inflation figures published for the past three or four months.
Zimbabwe's Reserve Bank governor, Gideon Gono, has called on the business community not to increase prices every time new measures are taken to adjust the currency.
Zimbabwe bank to issue $10m bill
By Peter Biles
BBC Southern Africa correspondent
Zimbabwe's central bank is to introduce new higher-denomination banknotes in an effort to ease the critical shortage of cash in the country.
Zimbabwe has been in economic decline for the past eight years, with annual inflation widely thought to be in excess of 50,000%.The highest value note that will go into circulation on Friday is worth 10m Zimbabwean dollars.
But that is worth less than US$3.90 (£2; 2.60 euros) on the black market.
...
The government's only response is to print more money - and that is seen as the main reason for the hyperinflation.
There have been no official inflation figures published for the past three or four months.
Zimbabwe's Reserve Bank governor, Gideon Gono, has called on the business community not to increase prices every time new measures are taken to adjust the currency.
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