Zimbabwe abandons its currency (1 Viewer)

[Rafy]

Zimbabwe abandons its currency | BBC NEWS
Zimbabwe sidelines worthless dollar for hard currencies | The Australian

ZIMBABWE has sidelined its near-worthless currency, declaring the US dollar, British pound and even the Botswana pula as legal tender in the country's rapidly collapsing economy.

"The Government is allowing the use of multiple foreign currencies for business alongside the Zimbabwean dollar," Patrick Chinamasa, the acting Finance Minister, announced in a humiliating admission that the Mugabe regime's battle to prop up the national currency was lost.

Shops, insurance companies, schools and state-owned utilities could now charge in foreign and local currency. A range of taxes will also be payable in hard and local currency.

Private companies will be able to pay employees in hard currency, but the regime is risking serious unrest by effectively leaving out government workers, including the army and police.

Mr Chinamasa said civil servants would continue to be paid in Zimbabwe dollars but would also receive a monthly allowance in government vouchers.

MPs in the House of Assembly roared their approval as Mr Chinamasa announced the move, which ends decades of Soviet bloc-type economic controls that have steadily undone what was one of Africa's most robust economies.[...]

 

[Lentern]

Most wise, although perhaps the Euro would be better than the pound or the dollar being used in so many countries and all. I wonder however if we'll see the world flood with counterfeit pounds and dollars, allthough dangerous it could be quite funny.