Jump to navigation

Vol 47 No 17

Published 25th August 2006


Zimbabwe

Zapping the zeroes

Despite a chaotic currency change, its architect Gideon Gono remains the President's close ally

Reserve Bank Governor Gideon Gono has decided to slash three zeroes from the amount printed on currency notes and issue new notes in a bid to tackle the world's fastest shrinking economy with inflation at over 1,200 per cent and unemployment at 80 per cent. The deadline for exchanging the old notes was 21 August and as the chaos ensued, Gono quietly flew out of Harare to China.

End of preview - This article contains approximately 1087 words.

End of preview

Subscribers: Log in now to read the complete article.

Account Holders: Log in now and use your Account Credit to buy this article. No Credit? Top up your Account now.


If you have a print subscription already, click here for a password that gives you full access to the website.

If you are logged in, but still cannot access the full text of this article, email customer services or telephone us on +44(0)1638 743633.