From The Cape Argus (SA), 20 December
Reserve bank governor blames crisis on corruption
Zimbabwe's top banker has announced the immediate introduction of higher denominations of bank notes in a bid to tackle cash shortages fed by runaway inflation. With inflation estimated at over 10 000%, the highest in the world, Zimbabweans face a bleak festive season. The economy took a turn for the worse this year when basic commodities disappeared from shop shelves after the government ordered businesses to slash their prices by 50% in July. Although commodities are available again, they are no longer affordable to most consumers. Professional "queueists" spend long hours standing in line for commodities which they then sell on the black market. With effect from today, 250 000, 500 000 and 750 000 Zimbabwe dollar notes will come into circulation, while from the end of the year, the Z$200 000 notes introduced last July, will cease to be legal tender.....
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