New Z$50 000 note hits the street

By Lance Guma
01 January 2006

Further evidence of Zimbabwe’s run away inflation came out Wednesday when a new Z$50 000 bearer cheque into circulation. The purple coloured note has been introduced by the Reserve Bank to try and reduce the amount of notes people have to carry when transacting their business. Although some Zimbabweans welcomed the move, they still feel it falls far short of the denominations needed to address their needs.

Lionel Saungweme reporting from Bulawayo says there is general dismay as to why the Reserve Bank insists on maintaining the bearer cheque system instead of printing real money. A disastrous land seizure policy has caused the economy to collapse and despite government denials the fall out has spread to virtually every corner of the economy.