American Express stops issuing travellers cheques in Zimbabwe

 
The news will deal a huge blow to Zimbabweans already suffering hardships especially the cross border traders who flock to neighbouring countries to make ends meet. This will also have an adverse effect on overseas travellers who rely on the travellers’ cheques as there are restrictions on the amount
of cash people can carry when leaving Zimbabwe.   
 
Meanwhile the Standard newspaper reported American Express had stopped operations to comply with the regulations under the sanctions imposed by Western countries on Zimbabwe.
Economist Tony Hawkins also wrote: “This is the first sanction to affect Zimbabweans as a whole rather than targeted individuals and organisations.
Affected banks will now have to issue cheques from other providers of the service.”