Central Banking

Zimbabwe to abolish notes to ease cash shortage

The Zimbabwean government plans to withdraw the Z$500 note from circulation within 60 days. The note will become worthless after this time providing a strong incentive for people to deposit in banks cash they are hoarding.

Source: Sapa-AFP

The government of Zimbabwe on Tuesday announced that it would abolish the highest denomination of the country's currency in circulation within 60 days as one way to curb the current cash shortage that has hit the country.

Zimbabwe is in its fourth month of a l

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