With the ink barely dry on a failed surrogate bond note currency, Zimbabwe’s central bank is mulling running the printing press yet again for a new unit before the end of the financial year as US dollars disappear from circulation, prices rise fast and the economy stutters to a halt.
Evidence of the colossal failure of the bond note, a currency the central bank chief claimed had a par value to the US unit in 2016, has done very little to dissuade monetary authorities from considering a new iteration. Zimbabwe adopted the use of a basket of strong currencies in 2009 to end an unprecedented period of hyperinflation that devastated the value of the Zimbabwean dollar.
Read More.. Source Quartz Africa