Zimbabwe.s bank note crisis deepens

Zimbabwe's bank note crisis deepens

Zimbabwe's bank note crisis is worsening. This is despite last week's
increase on withdrawal limits by 2 000% by the country's central bank.
Yesterday, the monetary authorities increased the limit by a further 50%.

However, analysts say this does not solve the crisis as depositors continue
spending entire nights in queues. Barter trading is now taking root owing to
the unavailability of cash and spiralling inflation.

ATMs are cashless and withdrawing the equivalent of just R80 a day is
laborious. Even schools are now accepting commodities like fuel and
groceries as fees.

A political settlement, which some pundits are predicting could be as early
as this weekend, could raise Zimbabwe from its economic doldrums.

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